MTN Ghana to list 35% of shares by end of March

15 Feb 2018

MTN Ghana, the country’s largest mobile network operator (MNO) by subscribers, will make 35% of its shares available in an initial public offering (IPO) by the end of Q1 2018, writes My Joy Online. MTN had originally begun the process of listing its shares on the Ghana Stock Exchange (GSE) in 2016 under a requirement of its 4G LTE licence, which was granted the previous year. Managing Director of the GSE, Kofi Yamoah said: ‘They’ve submitted the necessary documents to the GSE for review. We believe that at the end of this quarter we’ll see the public offer for that entity taking off.’ Last year MTN Ghana CEO Ebenezer Asante explained that the move to list part of its shares to Ghanaians is part of the localisation requirements of telecoms operators and is hoped to have a positive impact on trading in the local market.

Ghana, MTN Ghana