The country’s largest mobile telecom operator, MTN, has launched its initial public offer (IPO) as part of the company’s aim to allow Ghanaians acquire A stake in its highly profitable business – becoming first in the telecommunications industry to place on the Ghana Stock Exchange (GSE).
The launch of the IPO yesterday means that the public can now buy shares in the company at a cost of GH¢0.75 and a minimum of 10 shares per purchase. The shares can be bought at selected banks as well as on MTN mobile money.
The 4.6 billion shares being sold out to the public constitute about 35 percent equity of the company. MTN is targeting about GH¢3.5billion from the IPO. The offer, which went live yesterday, is expected to end on July 31, 2018, with all listing formalities closed on September 5, 2018.
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