By El-Amisty Nobo| Follow Amisty on twitter @ElAmistyNobo
Board Member of MTN Ghana, Dr. Ishmael Yamson has explained the critical role the MTN Invitational Golf Tournament plays in the business environment.
In his speech delivered on Friday, September 28 at the Celebrity Golf Club in Sakumono, the renowned economist, said the increase in participation by those who matter in the business space confirms how key the Invitational Golf Tourney is to MTN.
“One of our primary goals when we developed the concept of the invitational golf tournament was to foster cordial relationship with our key stakeholders – the gradual acceptance and increase in participation by those who matter in the business space is a testament to the critical role these invitational tournaments play in the business sector.”
Dr. Yamson, a founding director of the Ghana Stock Exchange and founding member of the Centre for Policy Analysis also used the occasion to share the success story of the MTN Initial Public Offer [IPO] which was launched in May 2018.
“The last time we met, we invited you to subscribe to our share offer. Thankfully, our message was well received. As a result, we successfully closed our IPO at the end of July achieving the requirements for the IPO to be deemed successful. We listed on the Ghana stock Exchange on September 5th and trading is currently ongoing.
“Permit me to share with you some significant milestones achieved with the IPO. MTN IPO has contributed significantly to the number of Ghanaians with shares at the Stock Exchange.
“The MTN IPO is almost double the size of all previous equity IPO’s on the Ghana Stock Exchange put together. It is the first IPO in the world that used technology (Mobile Money) as a medium to subscribe shares.”
BACKGROUND
MTN Ghana in May 2018 launched its Initial Public Offering seeking to raise about GHC 3.47 billion. It was hoping to sell each share at GHp 75 by issuing 4.6 billion shares.
MTN also pegged the minimum amount to be raised under the offer at GHC 347.
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