Hearts of Oak will announce the amount realized in its Initial Public Offer of club shares in November, GHANAsoccernet.com can exclusively reveal.

The Accra-based club made an audacious attempt to raise ten million Ghana cedis from twenty million shares first released to the public on August 1st.

However poor patronage of the sale necessitated the extension of its closing date on two occasions with the last deadline expiring on October 14.

Transaction operators, Strategic African Securities (SAS)will however need a minimum of two-weeks to corroborate all sales records at all of its outlets before making the final declaration of the total amount realized.

“There will be no more extensions to the IPO after the October 14 deadline,” Hearts PRO Albert Commey told GHANAsoccernet.com.

“The final extension was basically to give the opportunity to the co-operate world to purchase a stake in the club and I believe this has been achieved.

“SAS will need about two weeks to do their mobbing up and then make an announcement of the total amount realized.”

Commey’s response to whether the 10m Ghana cedi target has been achieved was however inconclusive.

“I honestly don’t have a firm answer to that, the club will be meeting SAS in the coming days to determine that so until then, we all wait and see what comes out,” he said.