Phobians consider going public

14 years ago

A date has been set to decide whether new champions, Accra Hearts of Oak goes on a public sale.

Board chairman of the Phobians, Emmanuel Commodore-Mensah announced the latest decision that is aimed at raising 5-million Ghana Cedis from the sale of their shares to the public.

Stakeholders at the Extra-Ordinary Congress for September 12 would vote on the issue for the club to become a public company.

According to Commodore-Mensah, the money from floating the former African champions on the stock market will be used to repay the club’s debts, invest in infrastructure and increase their operating capital.

He also says the move to place the club on the stock market is part of the process of evolution, aimed at modernising Hearts and creating a better future for the club.