GHANA’S BIGGEST TELECOM PROVIDER TO GO PUBLIC
The telecommunication provider that prides itself for being “everywhere you go”, MTN in Ghana, is on the verge of completing preparations to make an initial public offering (IPO) on the Ghana Stock Exchange (GSE) this year.
If the IPO goes through, MTN will be exempt from having to list a minimum percentage of its shares on the GSE as per the capital market local content policy. This localization requirement came with the license to provide 4G services that MTN Ghana acquired last year. Since then, MTN Ghana has worked in coordination with regulators in the Securities and Exchange Commission, the Central bank and the National Certification Authority (NCA) to get the IPO going. CEO of MTN Ghana, Ebenezer Asante, said that the IPO would launch once NCA has given its approval of the move.
(Source: telecompaper)