MTN Ghana has indicated that it will be closing its Initial Share Offer (IPO) which was launched on May 29th, 2018.
The company whose aim was to sell 4,637,394,533 ordinary shares, representing 35% of MTN Ghana (Scancom PLC) has mentioned that the offer period which has been scheduled to end at 5:00pm today, will not be extended.
Hitting on the progress made so far since the launch, the CEO of MTN Ghana, Selorm Adadevoh said MTN used innovative and convenient ways of getting people to participate in the IPO.
According to him, the company engaged stakeholders in many districts, big towns and markets in all 10 regions of the country.
MTN Ghana has also used all of its events and digital channels to talk about the IPO and to explain why people should participate in it.
Mr Adadevoh said he believes the company has given interested people enough time to make up their mind.
“The reason why we took this approach is because we want to reach all Ghanaians and to give them an opportunity to hear about our offering and to decide whether or not to own shares in our company. We have received a lot of commendations about these multiple channels” he said.
The IPO, which is the largest IPO on the Ghana Stock Exchange, is expected to increase the capitalisation and activity within the equity market.
The IPO is indicative of MTN Group’s long-term confidence in Ghana’s economic prospects.
The IPO Prospectus can be accessed electronically via www.mtnghanashares.com.
Physical copies can be collected from any MTN Ghana office or branches of the Receiving Banks or Receiving Agents (Brokers).
In addition to these channels, prospective applicants can receive the IPO Prospectus on their smartphones by dialing *533#.
An applicant can subscribe using the MTN Mobile Money USSD platform by Dialling *170# or through the Offer website www.mtnghanashares.com.
Prospective applicants can also buy through the sponsoring broker, IC Securities.