Ghana News-CFO for MTN Ghana; Modupe Kadri says MTN’s Initial Public Offering(IPO) of her shares will empower Ghanaians economically.
The CFO was speaking Thursday 31 May, 2018 at the Golden Bean Hotel in Kumasi where MTN launched her IPO in Kumasi.
He revealed that within 24 hours after the IPO was launched in Accra, over 8,000 applications were received; an indication of Ghanaians’ appetite for this Offer.
The IPO was launched in Accra Tuesday 29th May, 2018.
Mr. Modupe explains “there is an offer period of 2 months. By September, process to list on the Ghana Stock Exchange should have been done”.
He also explained that shares can be bought via MTN Mobile Money and explained that transaction fees have been waived for this transaction.
He however advised Ghanaians to read the prospectus carefully before proceeding or seeking advice from their brokers.
MTN is looking to raise a total of up to GHS 3, 478, 045,900 through the issue and sale of the Offer Shares.
Bantamahene; Baffour Owusu Amankwatia VI encouraged all and sundry to take advantage of the opportunity provided by this IPO for economic empowerment. He says “people who buy shares now will realize in a few years that the money spent on the shares was not money thrown away”.
He adds that buying MTN’s shares is not a gamble as MTN’s success is not in doubt.
Why this IPO by MTN?
The launch forms part of MTN’s 4G LTE license requirement in which the company had to sell 35% of its shares to Ghanaians by June 2018.
In November 2015, MTN Ghana successfully bid for the License from the National CA which took effect from 21 June 2016 and is valid for a renewable period of 15 years.
The License which allows MTN Ghana to offer 4G LTE mobile internet services to its customers holds extensive benefits.
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