MTN introduce its IPO in Koforidua

BY: Naa Lamiley Bentil
Mr Addo (middle)  delivering his address
Mr Addo (middle) delivering his address

MTN Ghana has held a function at Koforidua to announce to the people of the Eastern Region that it was offering shares in the company for sale.

MTN launched its Initial Public Offer (IPO) in Accra on May 29, 2018 and has since been to Kumasi, Sunyani, Takoradi and Wa to inform the public about the offer.

The public share offer will end on July 31, 2018 at 5pm. The entire offer period is for two months after which the allotment will begin.

Speaking at the ceremony in Koforidua which attracted scores of people in and around the region, MTN Ghana's General Manager for Enterprise Business, Mr Sam Addo explained that the listing on the Ghana Stock Exchange was part of the conditions agreed on in 2015, when it acquired the 4G license.

“With last Tuesday’s launch, we have made history as the first telco to be listed on the Ghana Stock Exchange at the conclusion of this exercise. As we entrench our position as the leader in Ghana, we are hopeful that this transaction will have a positive impact on our local market, including this region, expanding the frontiers of inclusion," he said.

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According to him, MTN has more than 200,000 retailers and it's Mobile Money service has contributed significantly to employment creation with jobs for over 100,000 merchant points across the country who received a total of about 50 million USD (GHc226m) as commission in 2017.

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According to Mr Addo, MTN was offering Ghanaians the rare opportunity to invest in the best in Mobile Voice, with 17.8 million subscribers representing a 47.6 per cent market share.

He entreated interested applicants of the IPO to contact it's receiving banks or visit MTN branches.

“I am very delighted to say that we are also allowing shares to be bought through Mobile Money. Our checks confirms that this is the first time that Mobile Money will be used to buy shares in an IPO (and subsequently trade them) anywhere in Africa or the world over.”