[Ghana] Meridian-Marshall Holdings flout shares on GSE

Meridian-Marshalls Holdings (MMH) Company Limited, owners of Meridian Pre-University and Marshalls University College, has opened its maiden public offering of shares on the Ghana Alternative Stock Exchange (GAX), of the Ghana Stock Exchange (GSE).

The Company, being the first to list an educational institution on the GSE, seeks to raise a total of GHC2.5 million through the issuance of 25 million new ordinary shares at 10 pesewas per share.

Dr Tetteh Nettey, President and Executive-Director of Meridian Pre-University and Marshalls University College, at the launch in Accra on Wednesday, said the offer which opens from now, will run until May 29, 2015.

He explained that the share offer has become necessary because MMH wants to raise funds for the expansion and delivery of innovative and world-class education.

He gave a brief background to the performance of the Meridian Pre-University, which he said started eight years ago with 20 students, but has since successfully graduated over 4,000 students, most of whom have gained admission into both public and private Universities in Ghana and abroad.

The University, he said was regulated by the Ghana Education Service and accredited by the West African Examination Council.

Dr Tetteh Nettey said the Marshalls University College was on the other hand established following the success of the Meridian Pre-University, to bring quality and world class teaching and learning standards onto the educational landscape in Africa.

Marshalls, with Accreditation from the National Accreditation Board, was therefore created to provide quality, practical and affordable tertiary education for deserving students.

He said the institution was affiliated to the University of Cape Coast and a number of Independent Universities in Ghana and abroad.

He said the MMH intends to strengthen its role as a diversified provider of career-oriented post-secondary education by continuing to pursue growth strategies, including the expansion of its existing facilities, programmes, faculties, as well as its Information Technology and other infrastructure.

He said the Institution has also acquired land in excess of 100 acres at Akosombo for the expansion of the Marshalls College and for the construction of an ultra-modern educational complex.

“By buying shares in MMH, you will be part of an institution that is well positioned to be a game-changer in the educational industry, not just in Ghana but in Africa and beyond”, he said.

Mr Kofi Yamoah, the Managing Director of the Ghana Stock Exchange, commended the MMH for taking a bold step to access the GAX facility, which encourages Small and Medium Scale Enterprises (SMEs) to list their companies under the GSE for their sustained growth.

He recounted instances involving many businesses folding up after the demise of their founders owing to poor management practices, lack of discipline, transparency and reduced capital.

The GSE he said. opens up to the public to have greater continuity in the structure and management of their respective businesses, and was developing appropriate strategies to ensure that all SMEs and entrepreneurs are captured under the GAX.

Mr Adu Anane Antwi, the Director-General of the Securities and Exchange Commission, urged SMEs and entrepreneurs to embrace the incentives put in place by the GSE to raise funding for their individual growth and for securing the investments of their clients.

Mr Ken Asigbey, the Managing Director of the Graphic Communications Group, launched the offer and encouraged corporate Ghana to invest in this worthy cause for the development of the human resource base of the country.

GNA