Medeama are set to be floated on the Ghana Stock Exchange in a bid for financial stability.
Medeama is privately owned by businessman, Moses Armah. The date for the launch of the Initial Public Offer (IPO) is expected to be announced later.
The club’s Communication Director, Patrick Akoto confirmed this in an interview. “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 prospect and we think we should be able to win an Africa inter-club competition in the next three years after the flotation of shares” he stated.
He added: “We hope to take off in the shortest possible time after our lawyers finalise 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 shares after Hearts of Oak.