Benso Oil Palm Plantation Limited is an oil palm plantation company in Ghana incorporated on January 22, 1976. The company was jointly owned; 58.48% by Unilever Ghana, 40% by Government of Ghana (GOG) and 1.5% by Barclays Bank Pension Fund (Ghana). Its primary activity is the growing of oil palm and the processing of palm fruits to produce palm oil and palm kernel oil.
The company is based at the Adum Banso Estate in Takoradi, Ghana. It owns over 5000 hectares of oil palm plantations and processes crude palm oil to produce oil products for domestic consumption. Brands include RBD Palm Oil and RBD Palm Olein. BOPP produces oil products for the Ghana market and for export to regions in West Africa. The company is also involved in refining fats and oils.
In 2004, the Ghana-based oil producing company patented a technology that converts waste food into nutritious food. BOPP is a subsidiary of Wilmar International Limited, producers of Frytol. And Unilever Ghana has a stake in its business.
On Tuesday, January 13, 2004, thirteen million nine hundred and twenty thousand shares (13,920,000) representing 40% of the total issued shares are offered to the investing public at a price of ₵5,000 (GHS 0.50). The IPO which was oversubscribed by over a 175%.
BOPP began the year with a share price of 2.86 GHS but has since lost 12.59% off that price valuation, ranking it 32nd on the GSE in terms of year-to-date performance. Shareholders’ worries are further compounded by the fact that BOPP has lost 12.28% of the stock’s value from April 29 to date.
The stock of Benso Oil Palm Plantation Limited (BOPP) is currently trading at 2.50 GHS per share on the Ghana Stock Exchange.
The type of traded securities of Benso Oil Palm Production are ordinary shares of no par value. The company had 50 million authorised shares of no par value with issued shares of 34.80 million.
BOPP has a public float of 7.34m and market capitalization of 87m.
The net profit for BOPP in 2018 was Ghc 5,913 000 and Ghc 9,653,000 in 2019 representing 63.25% increase according to the unaudited financial statements from GSE.
Sources: GSE, africanfinancials.