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Hearts Begin Sale Of Shares On 1 August
 
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27-Jul-2011  
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Hearts of Oak have confirmed they will list on the Ghana Stock Exchange starting 1 August.

The hugely anticipated floatation of shares, first of its kind by any football club in the sub region will help to ease the club’s financial burden and widen their source of funding.

The capital-based club have struggled in the past two seasons and the fans have attributed their plummeting displays to the lack of quality signings due to its precarious financial position.

Trading on the stock market will provide a profitable exit for the 2005 Caf Confederation Cup winners to build capacity.

Board chairman Commodore Mensah says there would be an enormous interest for the shares in the event of an initial Public offer (IPO).

“A full IPO would provide an opportunity for supporters to once again share in the ownership of their club,” Mensah told GHANAsoccernet.com

“This is what we’ve been talking about over the past years and finally it gladness my heart that it will come to fruition and believe is a move that will change the face of the club.

“Football is a highly intensive game where we get money mainly from gate proceeds and sponsorship and therefore believe floating will be the best option under the circumstance.”

Hearts of Oak will celebrate their centenary anniversary in November.
 
 
 
Source: Ghanasoccernet
 
 

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