Kafui Kanyi, GNA
Ho, June 12, GNA - A total of 52,000 individuals and institutional investors have bought shares in MTN, the leading telecommunication company in Ghana, two weeks after the Company launched its Initial Public Offering (IPO).
A company declares an IPO when it is issuing shares to the investing public for the first time.
The launch of MTN’s IPO is for the Company to meet conditions agreed in 2015 when it acquired the right for 4G license.
Mr Guido Sopimeh, Senior Manager Marketing Planning and Analytics, told journalists at the Volta Regional launch of the IPO that 94 per cent of the subscriptions so far were through mobile money channels.
He said the Company was targeting 10,000 subscribers by the end of July 2018 and urged the public to take advantage of the IPO to own part of the Company.
Mr Sam Addo, General Manager, MTN Businesses said the IPO would only change ownership structure of the Company with more corporate social investments that would be bring delight to customers.
MTN hopes to raise GH¢3.47 billion through the issue and sale of offer shares with every Ghanaian having the opportunity to own a share in the Company priced GH¢0.75 per share, which must be purchased in multiples of 10, with a minimum subscription of GH¢7.50, being the cost of 10 shares.