PETROSOL Platinum Energy PLC, a leading ISO-certified indigenous oil marketing company, has received a historic vote of confidence by investors as its maiden GH₵100 million corporate bond has received 178% subscription.

Today, PETROSOL listed its Series 1 and Series 2 Notes on the Ghana Fixed Income Market (GFIM) of the Ghana Stock Exchange (GSE), marking the maiden issuance under its GHS 200,000,000 Note Issuance Programme recently approved by the Securities and Exchange Commission (SEC) and the GSE.

The listing follows a bookbuild that closed 178% subscribed, with combined bids of GHS 178,074,000 against a GHS 100,000,000 target, a result the company and its advisers describe as a clear signal of institutional investor confidence in PETROSOL’s credibility and growth plans.

The 4-year Tranche 01 alone attracted GHS 114,277,000 in bids against its GHS 50,000,000 target, representing a 229% subscription from 66 underlying investor clients while the 5-year Tranche 02 drew GHS 63,797,000 in bids against its GHS 50,000,000 target, representing 128% subscription from 18 underlying investor clients.

Demand outstripping supply on both tranches is a rare outcome in Ghana’s still-developing corporate bond secondary market, and underscores investors’ confidence that PETROSOL represents a well-governed, well-managed and well-structured credit story.

PETROSOL plans to return to the market later to raise the remaining GHS 100 million, in line with the implementation schedule of its strategic plan.

The listing is the outcome of nearly three years of deliberate preparation by PETROSOL’s Shareholders, Board and Management, undertaken against a difficult macroeconomic backdrop of currency depreciation, elevated inflation and tight domestic borrowing conditions.

That preparation included the restructuring of the company’s Board of Directors, with the appointment of independent non-executive directors in 2024, the conversion to a public limited liability company in October 2025 and the setting up of Board Committees covering Audit & Risk, Remuneration and Nominating functions as well as migration to full International Financial Reporting Standards (IFRS) reporting.

It also included engagement of a Joint Lead Arranger syndicate comprising Absa Bank Ghana Ltd and Databank Brokerage Ltd, alongside KPMG as Reporting Accountants, Fidelity Bank Ghana Ltd as Note Trustee and Kimathi & Partners as Legal Advisers.

PETROSOL’s Board and Management have reaffirmed their commitment to strictly applying the proceeds to their stated purposes.

Funds raised will be directed toward improving the company’s working capital in order to shift the company’s fuel procurement from credit purchases to cash purchases to reduce cost of sales in order to improve margins and also offer greater value to consumers.

Part of it is also meant for expanding PETROSOL’s retail network of service stations to make its reputable brand more accessible to consumers.

The Board has stated that governance structures put in place ahead of the listing, including its Audit & Risk Committee, will oversee disciplined deployment of the proceeds in line with the use-of-proceeds commitments made to investors.

Daniel Acheampong, Board Chairman, PETROSOL Platinum Energy PLC, said:

“This listing is the result of nearly three years of deliberate preparation by the Board and Management, strengthening our governance, our reporting and our discipline so that when we came to the market, we would come as a credible institutional counterparty, not merely a hopeful borrower. The oversubscription on both tranches tells us investors recognise that work. We are proud to bring PETROSOL to the Ghana Fixed Income Market of the Ghana Stock Exchange on the strength of that credibility, and the Board will hold Management to the same discipline in ensuring these proceeds are applied exactly as promised to our investors.”

Michael Bozumbil, Chief Executive Officer, PETROSOL Platinum Energy PLC, said:

“We built this company from a small petroleum business consulting practice into one of Ghana’s highly respected OMC-brands, and we did it during some genuinely difficult years for the Ghanaian economy. Accessing the capital market was always part of our long-term plan not as a shortcut, but as the natural next step for a business that has proven it can grow sustainably and responsibly. A combined 178% subscription on our first issuance is a strong vote of confidence from the investment community, and Management is fully committed to deploying this capital exactly as set out to investors: working capital enhancement, cash-basis procurement and retail network expansion, nothing else.”

The listing adds a new, actively-traded corporate name to the GFIM at a time when Ghana’s capital markets institutions — the Ghana Stock Exchange, the Securities and Exchange Commission, and the Central Securities Depository — are working to deepen local capital markets beyond government securities.

Trading of PETROSOL’s Series 1 and Series 2 Notes on the GFIM begins today, with settlement, registry and depository services provided by the Central Securities Depository (GH) Ltd.

About PETROSOL Platinum Energy PLC

PETROSOL Platinum Energy PLC is a licensed, triple-ISO certified (ISO 9001/14001/45001) Oil Marketing Company (OMC) in Ghana, supplying petrol, diesel, LPG and proprietary lubricants to retail and corporate customers.

Founded in 2006 and licensed as an OMC in 2013, the company has grown from operating four fuel stations in 2014 to 109 fuel stations currently, spread across 13 regions of Ghana and ranks among the country’s Top 12 OMCs by volume, out of over 200 companies.