MTN Ghana gets approval to buy back shares

MTN Ghana, has received approval from the Securities and Exchange Commission (SEC) to buy back over one million shares of applicants, who failed to provide sufficient personal information to complete their Know Your Customer (KYC) requirements under the Company’s Initial Public Offer (IPO).

It will be recalled that shareholders of MTN Ghana at an Extraordinary General Meeting (EGM) held on Thursday, December 3, 2020, gave the Company the approval to buy back shares of applicants with incomplete personal information at the IPO price of GH¢0.75.

A statement issued in Accra by Mr Robert Kuzoe, Acting Corporate Services Executive of MTN, said with the approval, all such applicants would receive a refund of their initial purchasing money and dividends accrued since the IPO.

It said applicants, who did not provide sufficient KYC information could check the status of their account by visiting to update their records and upload a copy of their valid ID card.

The statement said before the buyback commences, MTN Ghana was making a final appeal to shareholders to take advantage of the notice period to complete all outstanding account information.

The notice period ends on February 23, 2021.

It said affected shareholders, who needed additional information may contact or IC Securities at [email protected] or 0302252621/3.

Source: GNA

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