Ghana Business News-The first trading of MTN Ghana shares is expected to take place on 05 September 2018.
This follows MTN-Ghana’s successful Initial Public Offering of her shares.
Chief Executive Officer of MTN Ghana; Selorm Adadevor revealed during a press briefing that the IPO raised more than three times the minimum threshold for a successful IPO. “I am happy to announce that The MTN Ghana Share Offer raised GHS 1,146,589,464.75, representing 3.3 times the minimum amount required for success”, he said and added that there were 128,152 applicants for shares with 127,826 of them being Ghanaians.
Mr. Adadevor said “the offer makes history as the largest primary share offer in the history of the Ghana Stock Exchange.” “As we have indicated already, the listing is the biggest in the country and, in Ghana Cedi terms, is almost double the size of all IPO’s put together in the history of the Ghana Stock Exchange”, he emphasized.
The CEO revealed the company’s satisfaction that most applicants were local Ghanaians.
He said 108,434 applicants representing 84.6% of applicants subscribed through the MTN Mobile Money portal.
“The fact that 84.6% of applicants chose to use Mobile Money channel demonstrates another case for Mobile Money and will accelerate financial inclusion in the capital markets of Ghana, for many people in this country who would not ordinarily have access to the capital markets”, he stated.
He assured all successful applicants that they will be allotted all the shares they applied for and adds “applicants with Central Securities Depository (“CSD”) accounts will have their CSD accounts credited with their allotment by 04 September, 2018 by 5:00pm”.