IPO ALERT: MTN Ghana Goes Public

mtn ghana

Telecommunications giant MTN has gone public by listing on the Ghana Stock Exchange (GES).

This was after the company submitted its prospectus to the Securities and Exchange Commission (SEC) and GSE to float some percentage of its shares on the local bourse.

MTN’s Initial Public Offer (IPO) is expected to make significant gains on GES.

The company is expected to dispose of 35 per cent of its shares to Ghanaians by June 2018.

The listing forms part of conditions required for securing 4G LTE licence.

MTN made GH¢7.5m daily as revenue in 2016.

The company’s total revenue rose to GH¢2.77 billion in December 2016, representing an increase of 19.8% over the GH¢2.31 billion recorded in 2015. Its data services contributed about 42% of total revenue in 2016.

More soon….

 

By: Ghana/Ultimatefmonline.com/106.9FM

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