The milestone achieved by the Groupe Nduom’s conglomerate was after a successful Initial Public Offer (IPO) raised about GHC2.85 million through the sale of some 118 million shares to existing and new shareholders.
With each share sold for eight pesewas and a minimum subscription of 750 shares, the IPO was launched on March 1 and ended on March 23, 2018.
Managing Director at Ghana Stock Exchange, Kofi S. Yamoah, who was impressed with the strides by DigiCut in his address, stated that the listing offers the opportunity for others to participate while assuring existing and new stakeholders that having a share with the company is a profitable venture.
“The offer provides the opportunity for a number of holders to join DigiCut. There are about 270 of them. Like I said they raised close to GHC3 million and I know this company is profitable – by my calculations since they started operating in the past 3, 4 years,” he said.
DigiCut General Manager, Richmond Lankwei Lamptey said, “DigiCut will become an international advertising agency. We will reverse the trend where people travel outside Ghana to train in modern advertising techniques and skills. Between first of March when I made that promise and now, we have been registered as an advertising agency in Liberia. Today, there exists an entity as Digicut Production and Advertising (Liberia) Limited.
As head of the brand, he made a pledge to investors and shareholders to make DigiCut a sought after brand adding that the media firm will abide by all rules and regulations of their regulators and become a model business.
DigiCut was established in 2004 to cater for the media production and advertising needs of GN, a business conglomerate founded Dr Paa Kwesi Nduom and his wife, Mrs. Nduom.
It, however, converted into a public limited liability company in 2017 to enable it undertake the IPO for fresh capital injection.
The IPO was meant to offer the company to the general public and in the process, raise funds for expansion, managers of DigiCut said at the time of its launch.
The company’s shares are due to be listed on the GAX, a smaller version of the Ghana Stock Exchange (GSE) meant for small and medium enterprises (SMEs), later today for trading to commence.