MTN raises R3.4bn in Ghana

MTN’s unit in Ghana raised 1.1 billion cedis (R3.4 billion) as the company sold about a third of the shares it made available in an initial public offering.

MTN sold 1.5 billion shares of the 4.6 billion shares offered at 75 pesewas each in the sale.

The shares will be listed on the Ghana Stock Exchange. The wireless carrier embarked on the sale to meet conditions agreed to with Ghana’s government in 2015. – Bloomberg