Ghana Premier League side, Medeama Sporting Club, has announced it will float shares on the Ghana Stock Exchange in a bid to attain some financial stability.
The 2016 CAF Confederation Cup campaigners are privately owned by business tycoon Moses Armah, popularly known as Parker.
The date for the launch of the Initial Public Offer (IPO) has yet to be announced.
The club’s Communication Director Patrick Akoto has confirmed the side’s impending intention.
“We want to open up the club to other interested parties and it’s the reason why we intend floating shares,” Akoto told medeamasc.com
“The flotation we believe is the surest way of restoring financial stability and ensure we are able to recruit top players and invest in modern infrastructure.
“This is a club with huge prospects and think we should be able to win an Africa inter-club competition in the next three years after the flotation of shares”
He added: “We hope to take off in the shortest possible time after our lawyers finalize the paperwork. There will be a meeting to clarify all relating issues.”
The two-time Ghana FA Cup winners will be the second Ghanaian club to float on the stock market after Hearts of Oak.
By: Citi Sports