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MTN GHANA SHARES TO BE LISTED ON THE GHANA STOCK EXCHANGE BY END OF YEAR

Mobile Telecommunication Network (MTN) Ghana shares will be listed on the Ghanaian Stock Exchange (GSE) by September, 2018, Mr Selorm Adadevo, Chief Executive Officer (CEO), MTN Ghana, has disclosed.

 

Mr Adadevo said the date was set following approval by the Securities and Exchange Commission to continue with the listing.

 

Addressing a news conference in Accra on Wednesday, July 18, 2018, he said the Initial Public Offer (IPO), which was launched six weeks ago on May 29, 2018, was still open till 5:00pm on July 31, 2018.

 

He reminded the public that once the offer period ended, applications would be reviewed, collated and  allotments would commence, adding that applications received after the offer period would neither be considered nor processed and urged the public to work within the stated period. 

 

The company, which was incorporated on April 14, 1994 with registration number C-54, 827 as a private company limited by shares, converted to a public company limited by shares on October 18, 2016 with registration number PL000322016.

 

MTN Ghana, through its IPO, is, therefore, raising three billion, four hundred and seventy million shares to cede 35 percent of its ownership to Ghanaians.

 

The MTN share offer is to be purchased in multiples of ten at seventy-five pesewas a share.

 

Source: ISD (G.D. Zaney, Esq. & Priscilla Agyarko)