MTN launches northern regional share offer

MTN Ghana on Thursday launched the Northern Regional Initial public offering (IPO) to dispose off 35 per cent of its shares to Ghanaians.

The launch, held in Tamale, was to give a fraction of the business to the public by issuing some of its shares for sale.

Nii Adotey Mingle, General Manager of Northern Business District of MTN, said the beginning of the share offer forms part of MTN 4G LTE license requirements in which the company is selling 35 per cent of its shares to the public and this started on 29th May and would be ending in 31st July this year.

He said the MTN share offer would be selling from GHp75 and above by issuing 4.6 billion shares to the public.

Mr Mingle said the public can also buy their shares from some selected banks including Cal Bank, Barclays Bank, Access Bank, ADB Bank and through mobile money as well.

Mr Eric Nsarkoh, Sales and Distribution Executive of MTN, said the IPO is when a firm issues shares to the investing public for the first time.

He said the investing public usually includes individuals and institutional investors such as bankers, insurance firms and pension funds.

“Even before, the IPO takes off, some industry experts are saying the offer could be the biggest that the country has ever witnessed,” he said.