Board Chairman of Accra Hearts of Oak Sporting Club, Commodore Mensah has said the decision to list the club on the Ghana Stock Exchange is to make the club more profitable.
Accra Hearts of Oaks chalked another first in its history by launching an Initial Public Offer (IPO) of its shares on Monday. The aftermath of this event has been a mixed bag of potential pluses and minuses. But the Board Chairman believes it is an initiative which will change the fortunes of the club.
Speaking on Asempa FM”s Sports Morning Show on Tuesday, Mr. Commodore Mensah said Accra Hearts of Oak is currently bedeviled with a lot of debts to the tune of GH¢3.6 million and the best way to bring the club on course is to invite the public to invest in the club.
He however discounted the notion that the Board of Directors are embarking on the flotation of shares to entrench and perpetuate their long stay at the club. According to Mr. Commodore Mensah, the current state of Hearts of Oak calls for a meticulous strategy to turn things around for club and the best way to make the club financially viable is to make use of the brand Hearts through the sale of its shares.
Mr. Commodore Mensah called on all and sundry to help make the flotation work since it is a novelty and would be a benchmark for other clubs to emulate.
Story by Adam Adjei/Asempa Sports/Ghana
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