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Medeama set to float shares

Medeama Communication chief, Patrick Akoto

Medeama are set to be floated on the Ghana stock exchange as it seeks for financial stability.

The 2016 CAF Confederation Cup campaigners is privately owned by business tycoon Moses Armah.

The date for the launch of the Initial Public Offer (IPO) will however be announced later.

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

“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 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 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 on the stock market after Hearts of Oak.