ZEN Petroleum eyes GSE listing to boost growth — CEO
The Founder and Chief Executive Officer of ZEN Petroleum Limited, William Tewiah, has announced that the company is preparing to list on the Ghana Stock Exchange (GSE) as part of efforts to strengthen its long-term growth and ownership structure.
Speaking on The Point of View on Channel One TV with Bernard Avle on Wednesday, April 22, Mr Tewiah said the decision followed extensive internal discussions on the advantages and potential challenges of going public.
According to him, the move aligns with the company’s vision of building a sustainable, trans-generational business that will outlive its founders.
“We have always aimed to build a business that will stand the test of time. Listing on the GSE and opening up ownership to the public makes the company truly Ghanaian,” he stated.
He added that going public would further reinforce the company’s commitment to strong corporate governance, regulatory compliance, and operational discipline.
Mr Tewiah disclosed that ZEN Petroleum has already undertaken a private placement with institutional investors, raising close to $1 billion—exceeding its initial target.
He explained that the offering was largely subscribed before it was opened to the public, reflecting strong investor confidence in the company.
Despite the successful capital raise, he noted that the company has retained a portion of its equity for strategic purposes, including plans to introduce an employee share ownership scheme.
“We are holding on to about 20% for now, with plans to roll out an employee share ownership scheme. Over time, we intend to float more shares and eventually reduce my personal stake to about 50%,” he said.
Mr Tewiah indicated that investor interest in the company has been strong, attributing it to ZEN Petroleum’s reputation for transparency and responsible business practices.
He also highlighted the company’s pricing strategy, noting that ZEN Petroleum has consistently offered competitive and uniform prices across its operations nationwide.
“Our goal has always been to provide the best possible price to consumers in a sustainable manner. We have maintained uniform pricing across our network, not just in selected areas,” he added.
The planned listing is expected to position ZEN Petroleum for further expansion while offering more Ghanaians the opportunity to participate in its growth.
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