MTN Ghana is expected to issue 35 percent of its shares through an Initial Public Officer (IPO) to the Ghanaian public by the end of the first quarter of 2018, reports JoyBusiness.
MTN commenced moves to list on the Ghana Stock Exchange (GSE) in 2016, as part of conditions under which it secured the 4G licence in late 2015. It was expected to finalise processes to float shares on the GSE by 2017.
GSE managing director Kofi Yamoah indicated that the company has submitted all the necessary documents and is awaiting approval from the regulatory bodies before going public.
Yamoah described the move as one of the significant activities to occur before the end of the first quarter of 2018.
In 2017, MTN Ghana CEO Ebenezer Asante, explained that the move to sell some of the company’s shares to the public is part of the localisation that came with the 4G licence.
This should impact positively on trading in the Ghanaian market. In all, 42 corporate notes and bonds were listed on the GSE with a value of GHC 6.71 billion by the end of December 2017 as against 23 with a value of GHC 444 million in 2016.
Telecompaper
