Tag: IPO
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MTN launches its IPO today
MTN will today launch its Initial Public Offering (IPO) to allow it raise some amount of money from the public. The company is by this exercise give at least thirty-five percent access to the general public to own a stake in its operations. The move is also to allow the telecom company fulfill a regulatory…
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MTN raises IPO target to $787m
MTN has lifted its target for an upcoming initial public offering(IPO) by more than a half to 3.48 billion cedis ($787 million), according Bloomberg. Africa’s biggest mobile-phone company by subscribers is preparing to list a 35 percent stake in its Ghanaian business on the local stock exchange, valuing the unit at about $2.2 billion. While…
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MTN not to list on GSE with IPO – Kofi Yamoah
MTN Ghana may not be listing on the Ghana Stock Exchange (GSE) anytime soon even though it plans to cede a part of its operations to investors. This is the indication from the managers of the Ghana Stock Exchange. “MTN in its discussion is raising money from the public or doing a public offer but…
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Access bank IPO makes cut to successfully list on GSE
Access bank will officially list on the Ghana Stock Exchange (GSE) after successfully raising the minimum subscription needed to declare its Initial Public Offer (IPO) successful in order to list. The listing which will take place on Wednesday, 21st December, 2016 will see Access bank becoming the first Nigerian bank to list on the GSE. The…
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BoG still owns 9.5 percent stake in ADB
The Bank of Ghana (BoG) is to still own a stake in the Agricultural Development Bank (ADB) despite the completion of the bank’s Initial Public Offer (IPO) early this month. It follows the inability of ADB to achieve a full subscription of its Initial Public Offer on Monday, December 5th, 2016. The Bank of Ghana…
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ADB fetches 326 million cedis from IPO
The Agricultural Development Bank (ADB) has raised about 326 million cedis in its Initial Public Offer (IPO). The bank was expecting to raise about 380 million cedis from the offer. A statement from ABD and copied exclusively to citibusinessnews.com indicated that, “the proceeds raised from the Offer was the sum of GHS325, 784,952.70 relative to…
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Access bank extends IPO period by fourteen days
Access bank has extended its Initial Public Offer (IPO) period by two weeks. The bank has extended the closing period for the offer from November 11, 2016 to November 25, 2016. A statement from the bank on the extension said, “The Securities and Exchange Commission has granted the Bank an extension to its Initial Public…