TV3 ready to float shares
The company has received approval to float its Initial Public Offer (IPO).
Information reaching ghanabusinessnews.com says that listing documents for the station have been approved by the two authorizing bodies, the Securities Exchange Commission (SEC) and the Ghana Stock Exchange (GSE).
It would be recalled that January 15, 2009, ghanabusinessnews.com carried a news item of the intentions of the private TV station to go public.
TV3 intends to float an initial public issue of 48 million shares and offer for sale 22.09 million shares by GAMA Media at a price of GH¢0.10 per share.
Malaysian firm, Media Primer after the sales would hold 51% of TV3’s capital of 172.33 million shares.
The initial share offer is expected to raise GH¢4.8 of which GH¢3.8 million would be for capital expenditure, while the rest would be for working capital.
By Emmanuel K. Dogbevi