MTN Ghana has said it is seeking to raise GH¢3.47 billion as it launches Initial Public Offering (IPO) in the West African nation.
The move will see MTN, which boosts the largest market in Ghana, cede at least 35 percent of its stake to investors.
It is also in fulfilment of a regulatory obligation regarding the purchase of one of the 4G spectrum license from the regulator in 2015.
The telecoms giant is targeting up to 4,637,394,533 shares at 75 pesewas per share, beginning Tuesday, May 29, 2018 till July 31, 2018.
The entire offer will last for two months while the entire process should be completed by September 2018 which will culminate in the listing on the stock market.
CEO of MTN East, Southern Africa and Ghana, Ebenezer Asante said the company has introduced a new way of listing on the stock exchange.
“We move into another phase of our business which seeks to give Ghanaians that unique opportunity to own a share of MTN. The entire offer is for two months,…I am excited to say that we are allowing shares to be bought through MTN mobile money,” he added.