Pharmaceutical manufacturing company, Intravenous Infusion Ltd is seeking to raise about GH¢5.5 million from the capital market through a public placement.
According to the Managing Director, David Klutse, the company is seeking to raise the funds from the Ghana Stock Exchange (GSE) together with an expected $5million from the government’s stimulus package program in order to support its expansion project and quest to enter other West African markets.
He said the delay in receiving the stimulus package from government has rather slowed the planned expansion to be carried out this year.
He spoke to JoyBusiness after Intravenous Infusion took its turn to present its annual performance during the ‘Fact behind the figures series’ at the Ghana stock Exchange.
The local manufacturing firm has been affected negatively by the indebtedness of the National Health Insurance Authority to some major health facilities in the country even though it has no direct contact with the NHIS.
Despite the huge indebtedness by some public health facilities, he said they are still supplying products to the market.
The company has recorded significant growth in profit since it was listed on the Alternative Market in 2015.
Source:Myjoyonline