Shares of Digicut advertising received an appreciation in value of 12.5 percent after it was listed on the Ghana Alternative Market on Wednesday.

The company listed on the Ghana Alternative Market after it raised a little over 28 million cedis from 270 investors during an Initial Public Offer at the price of 8 pesewas per share.

According to the Managing Director of Digicut Richmond Lamptey, the development promises to give investors good returns on their investments.

The new development h made the subsidiary o the Nduom Group, the 5th company to be listed on the alternative market since its establishment by the Ghana Stock Exchange.

During the Initial Public Offer, IPO, Digicut received an application from 278 investors which raised more than 28 million cedis out of the 35 million shares.

This indicates a success for the company.

Congratulating the company, Managing Director of the Ghana Stock Exchange, Kofi Yamoah urged small and medium enterprises to explore the opportunities presented by the GSE to raise funds to expand their operations.

Other subsidiaries of the Ndoum group are also expected to list on the Alternative market as well as the main bourse by the close o the year

In an address to welcome the new entrant onto the bourse, Managing Director of the Ghana Stock Exchange, Kofi Yamoah charged the company to avail itself for all the necessary rules for listed members on the GAX. 

He also requested that they appear for the annual ‘fact behind the figures’ series to ensure that shareholders and investors are well informed about their earnings.