MTN to Raise GH¢3.47bn from IPO
Ghana’s leading telecommunication giant, MTN Ghana, has taken yet another leap of faith into uncharted waters―leveraging its strength to deliver value to its cherished customers.
After listing 35% of its shares to the general public, the company seeks to raise about GH¢3.47 billion through its Initial Public Offer (IPO)
Speaking at the launch of the IPO, held in Accra, Yesterday, the Chief Executive Officer (CEO), MTN Ghana and Vice President, Southern & East Africa and Ghana (VP SEAGHA), Mr Ebenezer Twum Asante said, by investing in MTN Ghana, Ghanaians would benefit from the attractive financial returns and dividends reserved for shareholders.
“We move into another phase of our business which seeks to give Ghanaians that unique opportunity to own a share of MTN…I am excited to say that we are allowing shares to be bought through MTN mobile money,” he specified.
Meanwhile, the Minister of Finance Mr Ken Ofori Atta has applauded the outstanding move by MTN and has called for more participation from the general public.
“The concept of investing and building a fortune for the future is good and getting more people invested in the capital market also helps in attracting foreign investors to believe there is liquidity in our market and therefore they will participate,” he said.
The Shares Offer gates were opened yesterday and is expected to end on July 31, 2018.
The entire offer will last for two months while the entire process should be completed by September 2018 which will end in the listing for the stock market.
Each MTN share is selling for 0.75 pesewas and the minimum that can be purchased is 10 MTN Shares pegged at GH¢7.5Op.
The offer comprises over four Billion Offer Shares representing 35% of MTN Ghana’s issued shares.
Up to 2,489,698,667 of the Offer Shares would be new MTN Ghana Shares to be issued by the company to the successful qualifying applicants.
Each offer share shall carry the right to vote and to participate in any future dividends to be declared and paid on the MTN Ghana Shares.
Each offer share is freely transferable and is not subject to any restrictions on marketability or any pre-emptive rights on transfer.
Nonetheless, interested parties have been advised to seek expert advice before venturing into the MTN shares market.
By: Grace Ablewor Sogbey/ firstname.lastname@example.org