MTN Ghana IPO closes on 31 July 2018

By Published On: July 26th, 2018Categories: IPO News

The CEO of MTN Ghana is confident that the IPO will be a success. Their mobile money platform has enabled them to reach even the remotest of investor’s, therefore he is not going to offer an extension for the IPO.

MTN Ghana’s Initial Public Share Offer (IPO) which was launched on 29 May 2018 to sell 4,637,394,533 ordinary shares, representing 35% of MTN Ghana (Scancom PLC) is scheduled to end at 5:00pm on 31 July 2018.

As per the IPO prospectus, the minimum number of shares to be sold for the IPO to be successful is 463,739,453, representing ten per cent (10%) of the total number of shares on offer.

With a few days to the end of the IPO, MTN Ghana has confirmed that the offer period will not be extended.

Sharing updates on the progress made so far since the launch, CEO of MTN Ghana, Selorm Adadevoh, said MTN used innovative and convenient ways of getting people to participate in the IPO, and, as a result, the company engaged stakeholders in many districts, big towns and markets in all 10 regions of the country. MTN Ghana has also used all of its events and digital channels to talk about the IPO and to explain why people should participate in it. 

Mr Adadevoh said: “We believe that we have given more than enough time for people to make up their minds”.

He said: “The reason why we took this approach is because we want to reach all Ghanaians and to give them an opportunity to hear about our offering and to decide whether or not to own shares in our company. We have received a lot of commendations about these multiple channels”…

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