UT FINANCIAL SERVICES, the 2nd Best Company on the Ghana Club and 100 and 2nd Most respected company in Ghana, last week took its Initial Public Offer to their clients and public in Kumasi and Takoradi to create awareness about the share offer during a mini launch and an investor presentation to the publics in those two areas.
This is in fulfillment of its promise to take the share offer to the doorsteps of as many people as possible to ensure that UT’s offer is indeed “Everybody’s Share”.
Mr Prince Kofi Amoabeng, explaining the rational for the offer said, it was in response to requests from “investors and our desire to make ordinary Ghanaians to own this home grown company which they helped to build into an indigenous success story over the past eleven years”.
He said the offer will also to enable UTFS to deepen the capital market activities on the Ghana Stock Exchange, and recapitalize the company.
UT is offering 90,293,000 ordinary shares at 30Gp per share, to raise GH₵27, 087,900 out of which GH₵3 million will go into recapitalization while the remaining Gh₵ 24 million will go into other ventures. The share offer runs from 22nd September to 17th October, 2008.
Mrs Pearl Esua-Mensah, Director, Finance and Administration made a presentation of the exponential growth of the company in terms of its results and loans and advances indicating that based on profit performance, UT has been able to pay a consistent dividend to its current shareholders. She noted that the company has over the past five years taken all the awards that matter their area of operation.
She said with the current political and currency stability as well as the reforms being undertaken by the Bank of Ghana, the future looks very bright for UT FINANCIAL SERVICES hence any investment in the company is a good one.
The Director of Operations, Captain E. K. Budu Koomson indicated that UT has over the eleven years built a solid business structure with established clear, concise and adaptable processes for credit provision and collections with in-built risk management.
He said UT is to expand its operations to cover all the regional capitals in the country and also diversify its products to meet the needs of their customers through its well developed organizational structure and formidable workforce.
At Kumasi, Professor Theophilus Commey Ankrah, a lecturer of the School of medical sciences at the Kwame Nkrumah University of Science and Technology, commended UT for its timely and customer centred operations, which makes them “very reliable and dependable company”.
The programme was held at Miklin Hotel in Kumasi and was chaired by Bantamahene, Baffour Asare Owusu Amankwaitia V, and in attendance was Lady Julia Osei Tutu, wife of Asantehene Otumfuo Osei Tutu II, and Nana Wiafe Akenten III, Offinsohene.
Rt. Rev. Col. Rtd. Kwamina Otoo Anglican Bishop Sekondi Takoradi Diocese who launched the prospectus in Takoradi commended UT for pricing the share such that everybody could be part of it.
Osahene Katakyi Busumakura III, Takoradi Manhene was the Special Guest of Honour for the Takoradi Investor Presentation which was chaired by Mr. Edwin Philips Presiding Member Sekondi Takoradi Municipal Assembly.