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MTN launches IPO next Tuesday

MTN-House-Pix

MTN will launch its Initial Public Offering (IPO) next week Tuesday, May 29, 2018.

The exercise is to allow the public access to own a part of the telecom company.

Following the completion of the process, the public will have access to thirty-five percent ownership in MTN.

The decision to allow public ownership, forms part of the requirement for the acquisition of the 4G spectrum license in 2015.

A statement announcing the launch to Citi Business News said the move is in collaboration with the Securities and Exchange Commission, the Ghana Stock Exchange and the Ghana Investment Promotion Council.

MTN is seeking to sell 787 million dollars in shares to the investing public.

Investment analysts are hopeful of a boost in investments on the stock market with MTN’s 787 million dollars Initial Public Offer (IPO).

In their view, the telecom company’s presence should attract more investors and grow the access to funds.

For now, it is unclear whether MTN will list on the Ghana Stock Exchange after it completes the Initial Public Offering.

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Citi Business News