DigiCut Launches IPO

Chairman and President of Groupe Nduom, Dr. Papa Kwasi Nduom, has disclosed that his conglomerate will from the beginning of this month float shares on the Ghana Alternative Exchange to allow the general public own a part of the company.

Speaking via Skype yesterday from the United States of America (USA) at the launch of the Initial Price Offering (IPO) of Digicut Production & Advertising, a subsidiary of Groupe Nduom, Dr. Nduom said the reason for the floatation was to create an environment for the general public to own shares of the companies’ huge investments and enjoy the investments over a five-year period.

With over a billion dollars worth of investments and a global representation in Africa, U.S.A and the U.K, the celebrated Ghanaian entrepreneur was confident that the 30% of shares floatation in his companies will provide an opportunity for shareholders to own huge returns in their investments.

He mentioned that Groupe Nduom’s reputation of maintaining high ethics and integrity in the company’s business operations will be vital in safeguarding the customers’ investment.

Dr. Nduom, however, demanded from regulators in the industry to be flexible to allow operators in the private sector to grow.

“We are not here to sell a product or service.  Our purpose today is to begin sharing what we have built and continue to strengthen with the public – the companies that make up Groupe Nduom beginning with DigiCut.  Groupe Nduom is a multinational company based on a foundation of faith.  It is only by the Grace of God that we are able to do what we do,” Dr. Nduom said.

 

Upon a successful completion of the IPO, which was expected to run from March 1 to March 16, 2018, the company would list its shares on the Ghana Alternative Exchange (GAX) set up by the Ghana Stock Exchange (GSE) to encourage small and medium scale enterprises to list on the stock exchange.

For his part, General Manager of Digicut, Mr. Richmond Lankwei Lamptey, said the company was seeking to raise an amount of GH¢2.8 million through the issuance of 35 million ordinary shares at GH¢0.08 per share.

He said the company has a track record to attract a lot of investors and interest groups, as well as individuals, to buy its shares which has a minimum subscription on offer at 750 shares as the offer price, meaning “anyone who wants to buy the shares of the company will have to pay a minimum of GH¢80.”

According to him,” the company is all for competition and will always produce the best to meet consumers’ needs.

He said the company had restructured its business operations and introduced various products on the market.

Commenting on the introduction of GAX, Mr. Lamptey described it as a laudable initiative, and called on small businesses and up and coming ones to take advantage of it.

“It has also been smooth in many places because of the immense support of Groupe Nduom companies with tacit and unflinching support from the group directors led by Dr. Papa Kwesi Nduom. We have made many mistakes along the way and learnt useful lessons from them.   And we have also come out with some brilliant work that has made us proud and our people enthusiastic. Both experiences have contributed to our success,” he said.

The future prospect of Digicut, according to Mr. Lamptey, was bright considering the huge investments made since its establishment eight years ago.

He stated that Digicut had embarked on the acquisition of modern machines and equipment in order to improve its efficiency and efficacy in meeting customer demands.

He, therefore, called on the general public to purchase the shares of the company “since it has a bright future.”

“History is beckoning the first ever advertising agency to be listed in Ghana. There is the unassailable truth that Digicut is the first company to be listed from the GN companies. These are no mean achievements and we relish them with all the enthusiasm and joy we can muster. We also know the responsibilities that come with such accolades and we are prepared, willing and able to stand up to it,” he said.

The Director-General of the Securities and Exchange Commission (SEC), Rev.Daniel Ogbarmey Tetteh, expressed delight at the rate at which small businesses were taking advantage of the GAX.

At the moment, he said, the GSE had arrangements with some other businesses, which would soon launch their IPOs and subsequently list them on the GAX.

 

Story: Gottlieb BAAKO

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