Following their decision to go public and give Ghanaians the opportunity to own shares in Ghana’s biggest telecommunication network, MTN has noted that their shares could be bought using Mobile Money.
Speaking at the launch, the CEO of MTN East, Southern Africa and GHANA, Ebenezer Asante noted that the company has introduced a unique way of listing on the stock exchange.
“We move into another phase of our business which seeks to give Ghanaians that unique opportunity to own a share of MTN…The entire offer is for two months,…I am excited to say that we are allowing shares to be bought through MTN mobile money,” he observed.
MTN Targets GHS 3.478 Billion
The Telecom giant also says it looks forward to raising some 3.478 billion Ghana Cedis. (Three billion, four hundred and seventy eight million Ghana Cedis)
Through its Initial Public Offering (IPO) MTN will give up at least thirty-five percent access to the general public to own a stake in its operations.
The public share offer which will run from Tuesday, May 29, 2018 till July 31, 2018 is also aimed at fulfilling regulatory obligation regarding the purchase of one of the 4G spectrum licenses in 2015.
The telecommunication company is targeting up to 4,637,394,533 shares at 75 pesewas per share.
The launch follows the completion of the necessary regulatory processes with the Securities and Exchange Commission, NCA among other institutions.
The Minister for Finance Mr Ken Ofori Atta, who was also present at the launch, remarked that MTN share offer is a major step towards executing the local content policy which government has been championing.
The entire offer will last for two months while the entire process should be completed by September 2018 which will culminate in the listing on the stock market.