| |
| TV3 Ready to Go Public |
TV3 Network, the country’s first free-on-air private television network has stated that it is now ready to hit the stock exchange to raise funds to embark on an aggressive expansion of its service across the country.
When the documents are approved by the Securities and Exchange Commission ( SEC), it will make TV3 the first media organization to list on the Ghana Stock Exchange. The lead brokers of the deal is the First Atlantic Brokers companies.
Mr. Suhaimi Sheikh Muhammad, the Chief Operations Officer of the company said that the television station was poised to be one of the elite companies on the GSE to raise funds to enable the company undertake a satellite transmission of its programmes and replace most of its equipment which were obsolete.
Sheikh Muhammed did not disclose how much the company was prepared to raise on the GSE but sources said the company which is 90 per cent owned by Media Prima Berhad (MPB), the largest integrated media investment group in Malaysia, is seeking to reduce its shareholding to a simple majority.
MPB was established on September 23, 2003 and is listed on the Main Board of Bursa Malaysia ( the Malaysian Stock Exchange). The group has a diversified interest in both the electronic and print media apart from content development, event management and outdoor advertising. Mr. Muhammad said the station had contributed to development and enhancement of television in the country and was ready to reach another level by the close of the year.
“We introduced stiff competition in the industry with our rich and very entertainment programmes which include the soap operas, the toast of every family in the country, among others”, he said with confidence.
Mr. Muhammad said Ghana had become one of the icons on the African continent in terms of peace and stability and as it launched itself into another height with its oil find, television must go along with it, hence TV3s resolve to reach the entire nation with its service.
The television station, which is 10 years old, is now aired in Greater Accra, Ashanti, Eastern, Brong Ahahfo, Western and Central regions of the country and Mr. Muhammad expressed the hope that with funds, the television station would be able to extend its coverage to the five remaining regions.
The Chief Executive Officer of TV3, Mr. Syed Ahmed Zaidi, expressed delight that at long last, the company had been able to get its act together to realize its dream of listing on GSE. He denied the assertion by some people that the station was offloading part of its stake because it was preparing to sell the company. |
|
History