May 29, 2018 / 9:28 AM / a month ago

MTN's Ghana unit to raise nearly $750 million in IPO

ACCRA, May 29 (Reuters) - The Ghana business of telecoms operator MTN is seeking to raise 3.47 billion cedis ($743 million) in a 35 percent initial public offering (IPO) to be launched on Tuesday, transaction sources said.

MTN will sell about 4.63 billion shares of its Ghana unit in what is expected to be the West African country’s largest IPO at 0.75 cedis per share, the sources said. ($1 = 4.67 cedis) (Reporting by Kwasi Kpodo Editing by Aaron Ross and David Goodman)

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