CEO of MTN confident that the initial offering of 4 billion shares on GSE to succeed as the use of mobile money has boosted Ghana’s economic activity. This is because a huge portion of the shares are being bought that way.
Chief Executive Officer of MTN Ghana, Selorm Adadevoh says the company is confident that the Initial Public Offering (IPO) would be successful.Speaking to some section of the media on the progress of the IPO in Accra yesterday, he said the response from both institutional and retail investors so far was encouraging.
MTN Ghana, as part of measures to fulfilling its 4G license requirement, is transferring 35 per cent stake to Ghanaians through an initial public offering. The Company seeks to raise GH¢3.47 billion at 0.75 cedis per share in the sale of over four billion ordinary shares to the public.
Mr Adadevoh would however not disclose how much had been raised so far, but says that management of MTN Ghana was excited about the public participation in the IPO.
He explained that it was against the regulatory requirements for the company to disclose figures on the IPO when it
had not closed…
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Read complete article: Ghana News Agency
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