ZEN Petroleum Holdings PLC officially began trading on the Ghana Stock Exchange (GSE) today under the ticker ZEN, following a fully subscribed initial public offering that raised GHS 640 million from the sale of 128 million ordinary shares priced at GHS 5.00 each. The offer was reported to have been oversubscribed by 94%, with institutional investors accounting for 99.3% of total bids.

On its first trading day, the stock edged up 1% to GHS 5.05 from the offer price of GHS 5.00, a steady opening that points to early investor interest in the new energy listing. ZEN’s market debut also adds a fresh downstream petroleum name to the exchange, broadening exposure for investors looking beyond the usual banking and telecom heavyweights.

The listing comes amid renewed activity in Ghana’s capital market after a quieter period in recent years, and ZEN’s entry is expected to deepen the market’s sector mix while giving the company greater access to long-term capital. The company previously said the IPO proceeds would support its operating subsidiaries as it continues to expand across the downstream petroleum value chain