Shareholders of Intravenous Infusions PLC (IIPLC) have formally endorsed a GH¢50 million capital raise at an Extraordinary General Meeting (EGM) held in Accra on Friday, February 13, 2026, handing the company a fresh mandate to address financing pressures that have weighed on production and revenue over the past year.
The approval, granted through a renounceable rights issue backed by a post-rights private placement, comes after regulators determined that an earlier mandate passed at the company’s Annual General Meeting (AGM) in August 2025 was insufficient to support the rights issue structure. The private placement safety net ensures that IIPLC can still access the full target amount even if the rights issue is not fully subscribed by existing shareholders.
Shareholders at the same EGM also approved the conversion of loans from two entities into equity. A GH¢4.8 million facility from CCM Healthcare Investment FZCO and a GH¢239,594.15 facility from AI Acquisition will both be converted to shares, reducing the company’s debt burden without requiring immediate cash outflows.
Board Chairman Dr. Isaac Osei said the measures collectively position the company to strengthen working capital, improve liquidity, support planned expansion, and deliver better long-term value to shareholders. Management, he added, will pursue short to medium-term strategies centred on maximising revenues and profitability through domestic market expansion, new product lines, collaborative partnerships, and a deepened retail presence across the pharmaceutical value chain.
Managing Director Moukhtar Soalihu was direct about the circumstances that made the capital raise necessary. Financing difficulties over the past year limited the company’s ability to import raw materials, and that shortfall directly reduced revenues. “We need to look for funds to be able to fix that,” he said.
IIPLC is the single largest producer and supplier of intravenous fluids in Ghana, supplying hospitals, pharmacies, and critical healthcare institutions including the Ghana Armed Forces and Police Service. The Koforidua-based manufacturer has operated since 1974 and is listed on the Ghana Alternative Market (GAX).
Beyond recapitalisation, Soalihu outlined a five-year strategic plan to shift the product mix away from its current infusions base toward a broader injectable portfolio. On the export front, the company is targeting Ivory Coast, Benin, Togo, Burkina Faso, Liberia, and Sierra Leone as priority markets. “We are working hard to consolidate the existing gains that we have made, and also to see how we can expand precisely to the export market,” he said.
