Hearts IPO closes today

The Initial Public Offer (IPO) of Shares by Accra Hearts of Oak will officially close by 5pm today.

The club’s Public Relations Officer, Albert Commey Aryeetey, confirmed this to footyghana.com, adding that the supervisory body on the IPO, Strategic African Securities (SAS) will soon reveal the revenue generated from the exercise, which was extended by two weeks to enable adequate subscription of the shares.

20,000,000 shares in blocks of 100 shares each were made available for purchase at GH¢0.50 per share, but footyghana.com sources can confirm that the targeted revenue of GH¢10 million was not achieved.