Scancom PLC, operators of MTN Ghana, has received approval from the regulator, Securities and Exchange Commission (SEC) to buy back over one million shares.

Shareholders of MTN Ghana at an Extraordinary General Meeting (EGM) held on December 3, 2020, gave the company the approval to buy back shares of applicants with incomplete personal information at the IPO price of GH¢0.75.

This means that all such applicants will receive a refund of their initial purchasing money and dividends accrued since the IPO.

The telecom giant said, "Applicants who did not provide sufficient KYC information can check the status of their account by visiting www.mtnghanashares.com to update their records and upload a copy of their valid ID card."

Before the buyback commences, MTN Ghana has made a final appeal to shareholders to take advantage of the notice period to complete all outstanding account information.

The notice period ends on February 23, 2021.