Telecom operator, Airtel, has ruled out any plans to in the medium to long term, list on the Ghana Stock Exchange (GSE).
[contextly_sidebar id=”GRN1cXWI1lytdchIhfB2yEgzathLZqkD”]Though the telecom company is currently listed on the India Stock Exchange, it says it won’t list on Ghana’s bourse.
“We are not listing on the Ghana Stock Exchange because Airtel is a listed company on the Indian stock exchange and those shares are opened to anyone to purchase,” Managing Director for Airtel Ghana, Lucy Quist told Citi Business News.
Ghana has six telecom operators but none of them is currently listed on its local bourse.
This is despite calls by the Securities and Exchange Commission and Ghana Stock Exchange for them to do so.
Though Lucy Quist admits that the company has no plans to list its shares in Ghana, she has encouraged persons who want to purchase shares in the company to do so through the India Stock Exchange.
“That’s probably something that we need to be more informative around it; there are unrestrictions around who can buy shares on any stock exchange and I think it will be really good if people wanted to participate and buy those shares,” she added.
Meanwhile the Securities and Exchange Commission has told Citi Business News Ghana’s largest telecom operator; MTN Ghana, will soon float some of its shares to the public.
MTN is however yet to complete the process to get a final approval from the SEC.
The decision to float shares also forms part of moves to meet requirements around the 4G license.
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By: Vivian Kai Lokko/citibusinessnews.com/Ghana