Cellcom Goes Public in Liberia

Mergers, Acquisitions and Financial Results

Cellcom Telecommunication Incorporated, the privately-owned American cell phone and Internet Company in Liberia is offering opportunities to Liberians, other residents and business houses to participate in profit-sharing rights of the company. This is the first time a profitable and privately-owned company is offering shares to the Liberian public.

Cellcom is widely known for being first in the provision of upgraded services and promotions to its growing subscribers. The company's first-rate technology enables conference calls, voice messaging, email-to-phone, international roaming and no-rounding of minutes.

According to T. Max Jlateh, Public Relations Officer of the Company, Cellcom will officially launch its Initial Public Offering (IPO) on today, Monday, November 9, at 6pm, at the Royal Hotel. PRO Jlateh explained that the IPO is a convertible debenture whose minimum price is US$10.00. Up to 500,000 debentures are being offered with a minimum of ten percent interest which will be payable semiannually.

It can be recalled that exactly five years ago to the day, Cellcom broke the back of a monopoly in the telecommunication industry. Under the monopolized system, prices for SIM cards were as high as USD65.00 while the cost of local and international calls ranged from fifty cents to USD1.25. The minimum cost of cell phone was USD300.00. Coverage was restricted to Monrovia and its immediate environs.

Today, all of Liberia can be reached by a click of the cell phone whose price is as low as USD19.00. The price per call is fifteen cents across the networks while the rate for international calls using the Cellcom service is ten cents per minute. Cellcom has also introduced office solutions to improve the work environment and enhance efficiency in the work place.

The Analyst