Tag: SEC
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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 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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MTN targets GH¢3.47 billion from IPO
MTN is seeking to raise 3.478 billion cedis as it launches its Initial Public Offering (IPO). By this, MTN will cede at least thirty-five percent access to the general public to own a stake in its operations. The move is also aimed at fulfilling regulatory obligation regarding the purchase of one of the 4G spectrum…
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MTN launches IPO next Tuesday
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…
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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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SEC to raise minimum capital for operators
The Securities and Exchange Commission (SEC) has told Citi Business News it will by the end of 2017, announce a new minimum capital requirement for capital market operators. According to SEC, the decision is to consolidate operations in the investment market and protect the interest of investors. The move Citi Business News understands also follows…
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Appointment of board & DG of SEC questioned
Concerns are being raised in the financial sector over the recent appointment of a new Director General and board for the Securities and Exchange Commission (SEC). The commission has been without a board and substantive Director General since last year. It follows the retirement of the former Director General Dr A A Antwi and the…
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Ag. SEC Boss, 19 others conferred fellows of HR Practitioners
The Institute of Human Resource Management Practitioners, Ghana (IHRMP), has conferred Fellow status to 20 Practitioners who have distinguished themselves and are in good standing. The fellows include the Acting Director General of the Securities and Exchange Commission (SEC), Mr. Alexander Williams; MD of ADB Bank and Chairman of the Board of Trustees of IHRMP…
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Delays in forming new Boards causing economic losses – Analyst
Calls for the President to constitute new Boards for key government institutions have intensified due to the potential administrative lapses further delays could cause. The former Director General of the Securities and Exchange Commission (SEC), Dr. Adu Anane Antwi has indicated that Ghana may have lost huge investments at least for the first half of…