Telecoms giant, MTN Ghana has ended a nationwide launch of its Initial Public Offer (IPO) for subscribers and stakeholders at the Volta Regional Capital, Ho after successful launches in the other nine regions of the country.
The IPO which was officially launched on Tuesday, May 29, 2018 and expected to end on July 31, 2018 at 5pm would give Ghanaians and the general public the opportunity to own 35 per cent shares of MTN Ghana.
Speaking at the Regional launch on Tuesday, June 12, General Manager of MTN Business, Sam Addo said the offer is to allow the telecom company fulfill a regulatory obligation regarding the purchase of one of the 4G spectrum licenses in 2015 and would possibly be listed on the Ghana Stock Exchange on September 5, 2018.
“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 Telcom to be listed on the Ghana Stock Exchange at the conclusion of this exercise.”
He touted some achievements made so far by MTN in terms of being the first to introduce GSM technology, attain nationwide coverage, launch 3G, Mobile Money, Corporate Social Investment (CSI) Foundation and 4G Mobile services among others.
“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 USD (GHS226m) as commission in 2017,” Mr. Addo added.
The Deputy Volta Regional Minister, Mr. Maxwell Blagogee who was the Guest of Honour at the launch commended the Board and Management of MTN Ghana for taking such a giant step to ensure 35 per cent of its shares is made available to Ghanaians.
He used the medium to appeal to Management of MTN to strive for 100% of their network coverage in the region to facilitate communication while asking for 3G technology to cover all the 25 administrative district capitals to ensure students have unhindered access to the internet for research among other things.
The telecom giant is hoping to raise an amount of GH¢347 million from 4.6 billion shares on offer at the cost of GHp75 per share.
The investing public can buy their shares from some selected banks, Selected MTN Ghana branches, IC Securities (Ghana) Limited, and through mobile money. Alternatively, one can enter the URL, mtnghanashares.com to purchase the shares.
By: Ewoenam Kpodo/voltaonlinegh.com
