MTN Launches IPO In Takoradi

By Published On: June 28th, 2018Categories: IPO News

Eli Hini

MTN Ghana officially launched its Initial Public Offer (IPO) in the Western Region recently to raise about GH¢3.47 billion.

The offer is expected to end on July 31 with possible listing on the Ghana Stock Exchange (GSE) on September 5, 2018.

MTN, which would issue 4.6 billion shares, is hoping to sell each share at GH75p.

It has also pegged the minimum amount to be raised under the offer at GH¢347 million.

Eli Hini, General Manager for Mobile Financial Services at MTN, said the investing public can also buy shares from some selected banks and through mobile money.

“By investing in MTN Ghana, one will benefit and share our risks, as we maintain our track record of investing in our business, focusing on high growth opportunities and delivering attractive financial returns,” he added.

He said MTN inherited 2.5 million subscribers in 2006 and quickly achieved the 10 millionth subscriber milestones within five years, adding that currently it has over 17 million subscribers with about 1.8 million coming from the Western Region.”

MTN was the first to launch 3G, Mobile Money, Corporate Social Investment (CSI) Foundation and nationwide 4G Mobile service, among others.

“Specifically, in the Western Region, we had 201 3G sites and 62 4G sites at the end of last year.”

“This year, an additional 46 3G sites and four 4G sites are being deployed, further underlining how important the region is, and indeed our quest to make our customers’ lives a whole lot better, he revealed.

“The entire offer period is for two months after which the allotment will begin. We are hoping that by September we would have ended the entire process for listing to begin.

“Interested applicants may contact our receiving banks or visit MTN branches. I am very delighted to say that we are also allowing shares to be bought through Mobile Money,” he mentioned.

The telecommunications company has about 1.14 million Mobile Money subscribers in the Western Region.

MTN Ghana paid a total amount of GH¢1.059 billion in taxes to government last year.

The company’s Mobile Money service also contributed significantly to employment creation with jobs for over 100,000 merchant points across the country who received a total of about $50 million as commission in 2017.

View MTN Ghana company page

Read the complete article: DailyGuide

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