Ebenezer Asante
MTN Ghana ended the nationwide launch of its Initial Public Offer (IPO) in Ho, the Volta regional capital.
The IPO was launched in all 10 regions of Ghana to give subscribers and stakeholders the opportunity to understand the benefits of the IPO and other information.
The IPO, officially launched on Tuesday, May 29, 2018, is expected to end on July 31, 2018 at 5pm.
Ghanaians have the opportunity to own 35 percent of MTN Ghana, representing over 4.5 billion ordinary shares.
General Manager of MTN Business, Sam Addo said: “As many of you are already aware, MTN is listing its shares to meet conditions agreed in 2015 when it acquired the right for the 4G license. With Tuesday’s launch, we have made history as the first telco to be listed on the Ghana Stock Exchange (GSE) at the conclusion of this exercise.”
He added: “We have more than 200,000 retailers and our Mobile Money service has contributed significantly to employment creation, with jobs for over 100,000 merchant points across the country, who received a total of about $50 million (GHS226 million) as commission in 2017.”
A member of MTN’s transaction team, Guido Sopimmeh, has revealed that the Initial Public Offer (IPO) has recorded over 52,000 applicants in two weeks.
Deputy Volta Regional Minister, Maxwell Blagogee, who co-launched the IPO in the region, commended MTN Ghana for given Ghanaians the opportunity to own part of the company.
He urged the company to attain 100 percent coverage in the country, particularly in the Volta Region.
Togbe Kotoku of the Kpenoe Traditional area, who also co-launched the IPO in the region, urged other multinationals to emulate the shining example of MTN.
The telecom giant is hoping to raise GH¢347 million from 4.6 billion shares on offer at the cost of GHp75 per share.