MTN Ghana completes initial public offer (IPO)

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Shareholders are advised of the successful completion of MTN Ghana’s IPO. An amount of GHS
1,146,589,464.75 (an equivalent of approximately %238.5 million at the current exchange rate,
prior to costs as detailed in the prospectus) was raised from 128,152 applicants making this the largest primary share offer on the Ghana Stock Exchange (GSE).

A total of 108,434 applicants subscribed through the MTN Mobile Money portal representing 84.6% of the number of applicants. Post the IPO, MTN Group’s shareholding in MTN Ghana will be 85.40%.

The Offer consisted of a public offer of up to 4,637,394,533 ordinary shares of MTN Ghana valued at GHS3,478,045,900 at an Offer price of GHS 0.75 per share (the “Offer Shares”), representing up to 35% of the issued shares of MTN Ghana after the offer, to Qualifying Applicants (as defined in the Prospectus and a listing of all the Offer Shares and the already issued 10,760,000,000 ordinary shares of MTN Ghana on the GSE.

IC Securities (Ghana) Limited acted as Financial Adviser and Sponsoring Broker to MTN Ghana in
respect of the IPO.

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 16 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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