Gayheart Mensah
Vodafone Ghana says it’s not prepared to list on the Ghana Stock Exchange (GSE).
odafone Ghana says it’s not prepared to list on the Ghana Stock Exchange (GSE).
A press statement issued in Accra recently and signed by External Affairs Director, Gayheart Mensah, said the acquisition of 4G licence does not mandate it to launch an IPO.
“We refer to media publications in which the leadership of the Ghana Stock Exchange (GSE) is reported to have indicated that Vodafone must be compelled to list on the bourse following its recent acquisition of 4G LTE Licence.
“The 4G LTE License conditions do not mandate licensees to launch an IPO on the GSE and nowhere in the bid documents or the licence condition is reference even made to listing. The notion of compelling Vodafone to list on the GSE is therefore misplaced.
It said the bidding process for the 4G LTE licence requires successful companies to ensure 25 percent Ghanaian ownership of their operations which is not the same as listing on the GSE.
Vodafone has already satisfied this requirement, since the Government of Ghana owns 30 per cent of the company. “An IPO on the exchange is, therefore, clearly not required.”
“Vodafone places on record that it has no aversion to listing or accommodating local participation in the company’s fortunes, as the publications suggest.
“Our focus now is on ensuring our infrastructure is ready for 4G deployment and full-scale rollout as early as possible. We remain committed to offering our customers the real 4G experience.
“Our continuous successful partnership with government and the business’s investment in spectrum, infrastructure, products and services and in our staff are proof of Vodafone’s commitment to Ghana. We are proud to be Ghanaian and at the center of the telecommunications revolution in the country,” Mr. Mensah added.