MTN launches IPO; Seeks to raise GH¢3.478 billion

BY: Graphic.com.gh

MTN Ghana is seeking to raise GH¢3.478 billion following the launch of its Initial Public Offering (IPO).

The launching of the IPO is part of moves aimed at fulfilling regulatory obligations regarding the purchase of one of the 4G spectrum licenses in 2015.

By this, MTN Ghana will cede at least 35 per cent access to the general public to own a stake in its operations.

The company is hoping to sell 4.6 billion shares at GHp75 per share.

The offer which was launched Tuesday is expected to end on July 31.