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NIMED RESEARCH WEEKLY 07-SEPT-2018 – Nimed Capital Limited

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MTN GHANA LISTS ON THE GHANA STOCK EXCHANGE

On 5th September 2018, MTN Ghana finally got listed on the
Ghana Stock Exchange (GSE) after a successful sale of a little over GHC 1 billion worth of shares during its Initial Public offering (IPO). MTN has thus now become the fortieth (40th) company and the very first telecommunication company to list on the GSE.

By this listing, MTN’s shares are now available for trading on the GSE. The stock will trade under the ticker symbol “MTNGH” and will be available from all licensed brokerage firms.

The first day of trading in MTN shares saw a significant increasing in market capitalization. Market Capitalization increased by over GH¢ 9.22 billion from GH¢ 55.97 billion to GH¢ 65.19 billion. This represents an increase of over 16.4%. The first trading day also witnessed a total of about 5 million shares valued at GH¢ 3.76 million being traded.

It is envisaged that, these additional shares on the market will increase the trading appetite of investors and thus improve liquidity on market.

Investors will now eagerly wait in anticipation for the listing of Energy Commercial Bank which is seeking to raise over GHC 340 million by floating fifty percent (50%) of it shares to Ghanaian institutional and retail investors. The IPO is currently pending final approval from the Securities and Exchange Commission.

Download Full Report : https://nimedcapital.com/nimed-research-weekly-25-jan-2019/

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