Initial Public Offer (IPO)
Initial Public Offer (IPO)

MTN Ghana, the leading provider of mobile telecommunications services has set another grand -breaking record in the country for being the first Telecom firm to list on the Ghana Stock Exchange.

This signifies that, Ghanaians can now buy or own shares in the company. And for the first time, Mobile Money subscribers can purchase the shares on the stock market.

The offer is expected to end on July 31 and possibly list on the Ghana Stock Exchange on September 5, 2018.

In all, the company seeks to raise about GH¢3.47 billion. More so, MTN is hoping to sell each share at GHp75 by issuing 4.6 billion shares.

Speaking at the launching ceremony of the Initial Public Offer (IPO) in Accra, the Vice President of Southern, East Africa and Ghana (SEAGHA) Ebenezer Asante, hinted that the company is listing its shares to meet conditions agreed to in 2015, when it acquired the right to use a 4G spectrum that can carry high-speed mobile data for customers.

“Our Regulator made it a license requirement for MTN Ghana which we complied with because we believe the good people of Ghana deserve the privilege of owing a part of MTN which prides itself in being the first at many things and in many spaces. Hopefully we will make history and show the way as the first Telecom on the GSE,” he said.

According to him, the company has over 17.83 million subscribers with a market share of approximately 55.09%1 as at December 2017.

This he said, MTN Ghana, in line with its vision and mission, continues to lead the delivery of a bold new Digital World to customers and to make their lives a whole lot brighter.

“As we entrench our position as the leader in Ghana, we are hopeful that this transaction will have a positive impact on our local market, expanding the frontiers of inclusion,” he emphasized.

According to him, starting from 1996 when Scancom made history by being the first company to introduce GSM technology in Ghana, the expansion begun.

Upon acquisition of the Company in 2006, MTN inherited 2.5 million subscribers and quickly archived the 10 millionth subscriber milestone within 5 years.

“Today we are over 17 million. We have more than 200,000 retailers and our Mobile service has contributed significantly to employment creation with jobs for over 100.000 merchant points across the country who received a total of 4.4million USF(GHS19.6m) as total commission in 2017,” he disclosed.

Scancom Plc (“MTN Ghana” or the “Company”) is a public limited liability company incorporated under the Companies Act (as defined below). MTN Ghana is licensed by the NCA to operate as a mobile telecommunications service provider in Ghana under the EC Laws.

By: Isaac Kofi Dzokpo/newsghana.com.gh

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