Tag: MTN IPO
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5 reasons why MTN didn’t meet its IPO target
MTN has successfully listed the proceeds of its Initial Public Offering (IPO) on the Ghana Stock Exchange. The company becomes the first telecom entity to list on the local bourse. But the IPO could not meet the 3.47 billion cedis target though the subscription of 1.145 billion cedis is considered historic. Investment banker, Mahama Iddrisu…
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MTN’s presence boosts stock market’s capital to GH¢65bn
The total value of the Ghana Stock Exchange has reached 65 billion cedis. It follows the successful listing of MTN on the stock market, on Wednesday [September 5, 2018]. As a result, the telecom company has started trading its shares on the Ghana Stock Exchange. MTN concluded its IPO in July which allows the public…
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MTN to list on Ghana’s stock market today
MTN is to list proceeds from its Initial Public Offering (IPO) on the Ghana Stock Exchange later today [September 5, 2018]. The company, in July, concluded its IPO which is to allow it cede thirty-five percent of its operations to the public. The IPO targeted 3.5 billion cedis, but it was able to raise 1.146…
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Economy, banking crisis affected MTN IPO performance
Investment banker, Alhaji Mahama Iddrisu has cited the current banking crisis as well as what he describes as wrong timing as basis for MTN’s inability to reach its target for the Initial Public Offering (IPO). Though he qualifies the subscription as satisfactory, Mr. Mahama Iddrisu believes the offer had the potential to have performed better.…
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MTN raises GH¢ 1.146 bn from IPO
MTN has raised a total of 1.146 billion cedis from its Initial Public Offering (IPO). The amount realized from the IPO shows that MTN fell short of its target of 3.47 billion cedis by about 2.3 billion cedis. The telecom company however says the performance is highly commendable considering the volume of the offer. The…
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MTN investors anxious over undisclosed IPO results
Investors who purchased MTN shares are anxious over the seeming delay in announcing the results for the Initial Public Offering. The telecom company concluded its IPO in July 2018 and it is expected to list the proceeds on the Ghana Stock Exchange by September 2018. MTN seeks to raise 3.47 billion cedis from the investing…
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MTN begins review of IPO applications
MTN has announced that it has commenced collating shares for its Initial Public Offering (IPO). The telecom company on Friday (August 3, 2018) said in a statement that it is currently reviewing the applications. “Following the closure of the IPO, the applications received are currently being reviewed and collated for allotments to commence,” the statement…
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‘Last minute’ MTN IPO buyers disappointed
Some potential shareholders of MTN are pushing for an extension of the Initial Public Offering after failing to secure shares in the company. Information available to Citi Business News indicate that most investors were left frustrated as the telecom company closed its doors to any further issue on Tuesday, July 31, 2018. Reports from outlets…
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MTN ends GH¢3.47 bn IPO today
MTN is to complete its Initial Public Offering (IPO) by close of day today [July 31, 2018] barring any last minute changes. The telecom company is ceding thirty-five percent (35%) of its shares to the public to complete the regulatory processes after it secured one of the 4G spectrum license. It’s been a little over…
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Stock market managers face tough times in raising capital
Stock market analysts are predicting tough times for the managers of the Ghana Stock Exchange at least for the next couple of weeks. The bearish performance of the local bourse for some time now has raised concerns on the impact on existing companies. But it appears the heavier task will be how the managers will…