{"id":381945,"date":"2017-03-15T17:33:21","date_gmt":"2017-03-15T17:33:21","guid":{"rendered":"http:\/\/ghana-mma.com\/2017\/03\/15\/mtn-to-sell-shares-in-ghana\/"},"modified":"2017-03-15T17:33:21","modified_gmt":"2017-03-15T17:33:21","slug":"mtn-to-sell-shares-in-ghana","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/03\/15\/mtn-to-sell-shares-in-ghana\/","title":{"rendered":"MTN to sell shares in Ghana"},"content":{"rendered":"<p><\/p>\n<div>\n<figure id=\"attachment_93486\" style=\"width: 630px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-93486\" src=\"http:\/\/ghanamma.com\/wp-content\/uploads\/2017\/03\/THE-CEO-OF-MTN-GHANA-MR.-EBENEZER-ASANTE-INTERACTING-WITH-TEAMING-HELPI....jpg\" alt=\"\" width=\"630\" height=\"350\"  \/><figcaption class=\"wp-caption-text\">Mr. Ebenezer Asante is MTN CEO<\/figcaption><\/figure>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>Telecom giant MTN Ghana will finalize processes to float shares on Ghana Stock Exchange (GSE) this year \u2013 2017.<\/strong><\/p>\n<p>MTN commenced moves to list on the GSE last year \u2013 2016, as part of conditions under which it secured the 4G license in late 2015.<\/p>\n<p>The company which spent US$67.5million to acquire the license which is valid for the next 15 years, is hoping to raise about 500 million dollars in order to offload 35 percent of its business in Ghana to locals.<\/p>\n<p>If successful, MTN will be exempted from the capital market local content policy which enjoins companies operating in specific areas including telecom, mining, oil and gas to list a minimum percentage of their shares on the Ghana Stock Exchange within 5 years of commencement of operations in Ghana.<\/p>\n<p>Chief Executive Officer of MTN Ghana, Mr. Ebenezer Asante speaking after an MTN Stakeholder and Media forum on its performance for 2016 said the company had cleared initial issues it had had with regulators.<\/p>\n<p>\u201cThe localization requirement is a requirement that came with the 4G license and it\u2019s very clear from the license that 35% of MTN should be moved into Ghanaian hands and since we required the license we have engaged the regulators both in the NCA as well as the Central Bank and also with the Securities and Exchange Commission; there were a few issues that we had to trash out with the regulator and that has been finalized, so with that out of the way we have to just also finalize the prospectus so that the Securities and Exchange Commission can look at it and give approval,\u201d he explained.<\/p>\n<p>He added that MTN will launch the IPO immediately the NCA approves the move.<\/p>\n<p>\u201cWhen we receive approval from the NCA, we would be in the position to launch the 4G localization that came with the license,\u201d Mr Asante said.<\/p>\n<p>He further noted that \u201cin terms of the exact time lines I\u2019m not able to commit to because I am not a regulator and I should not be seen to be stampeding the regulator through this interaction so all that I can say is that three months for the receipt of the approval from the SEC we will be in the position to launch and it should be before the end of this year\u201d.<\/p>\n<p>\u00a0<\/p>\n<p>By todaygh.com<\/p>\n<p><!-- Facebook Members Plugin by Crunchify: http:\/\/Crunchify.com\/facebook-members\/ -->\n\t\t   \t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mr. Ebenezer Asante is MTN CEO \u00a0 Telecom giant MTN Ghana will finalize processes to float shares on Ghana Stock Exchange (GSE) this year \u2013 2017. MTN commenced moves to list on the GSE last year \u2013 2016, as part of conditions under which it secured the 4G license in late 2015. The company which [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-381945","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MTN to sell shares in Ghana - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/03\/15\/mtn-to-sell-shares-in-ghana\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"MTN to sell shares in Ghana - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Mr. Ebenezer Asante is MTN CEO \u00a0 Telecom giant MTN Ghana will finalize processes to float shares on Ghana Stock Exchange (GSE) this year \u2013 2017. 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