MTN Ghana’s IPO is scheduled to end at 5:00 pm, tomorrow July 31, 2018, and MTN Ghana has confirmed that the offer period will not be extended.
The share offer was launched on May 29, 2018 to sell 35% of Scancom PLC and as per the IPO Prospectus, the minimum number of shares to be sold for the IPO to be a success is 463,739,453 representing 10% of 4,637,394,533 ordinary shares.
You can subscribe either by using the MTN Mobile Money USSD platform (by dialing *170#) or via www.mtnghanashares.com, the offer website.
Aside accessing the prospectus electronically from the offer website, physical copies can be collected from any of the MTN Ghana offices or brances of the receiving banks or brokers (receiving agents). Also, you can dial *533# on your smartphone to receive the prospectus.
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Speaking on the progress made since the launch, MTN Ghana’s Chief Executive Officer, Selorm Adadevoh said MTN employed innovation and convenience in getting people to participate, and as a result of that, there was stakeholder engagement in all 10 regions of the country.
“The reason why we took this approach is that we want to reach all Ghanaians and to give them an opportunity to hear about our offering, and to decide whether or not to own shares in our company. We have received a lot of commendation about these multiple channels.” – Selorm Adadevoh
Speaking further, Mr Adadevoh commented on the laudable and innovative decision to use Mobile Money for the IPO and mentioned that a significant number of the subscriptions received was done through MTN Mobile Money.
Once the offer period has ended, applications will be reviewed and collated and allotments will commence, and following approval from the Securities and Exchange Commission, trading on the Ghana Stock Exchange is expected to begin on September 5, 2018.
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