SENS Note - 30 August 2018

MTN - MTN Ghana successfully completes IPO

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 USD 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 GHS 3 478 045 900 at an Offer price of GHS0.75 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) Ltd. acted as Financial Adviser and Sponsoring Broker to MTN Ghana in respect of the IPO.

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