Meridian Marshalls Holdings, owners of Meridian Pre-University and Marshalls College has launched its IPO through the issuance of 25 million new ordinary shares valued at GH 10pesewas per share.
GAX IPO [contextly_sidebar id=”pslhN2osWdzvnyNv3RdQKHIpo9pj6Kzz”]The IPO is expected to commence from Monday, April 27, 2015 and run for a month.
The company is seeking to raise GH 2.5million from the Initial Public Offering.
President and Executive Director of Meridian Pre-University and Marshalls University College Dr Tetteh Nettey in an interview with Citi Business News after the launch said proceeds from the IPO will enable the company expand its frontiers and bring world class teaching and learning to the fore and change the scope of education in Africa.
‘’Quality will be brought to bear in terms of what we do and the funds we raise is to bring in international faculties to augment what we are doing here locally.’’
Marshalls, has accreditation from the National Accreditation Board and is affiliated to the University of Cape Coast and a number of Independent Universities in Ghana and abroad.
As parts of its expansion works, Dr Nettey said the institution has also acquired land in excess of 100 acres at Akwamu in Akosombo for the construction of an ultra-modern educational complex.
Commenting on Meridian Marshalls IPO launch, the Director General of the Securities and Exchange Commission (SEC) Dr Adu Anane Antwi expressed optimism that the IPO launch and subsequent listing of Meridian Marshalls on the GAX will be the beginning of bringing different sectors of the economy onto the market.
If successful, Meridian Marshalls Holdings will be the first education-oriented institution to be listed in Africa apart from South Africa.
By: Lorrencia Nkrumah/citifmonline.com/Ghana