The management of Tullow Oil Ghana Limited, has announced plans to list its shares on the Ghana Stock Exchange (GSE) with an offering of 4,000,000 shares in Ghana.
The offer of Tullow�s shares on the GSE would give Ghanaian investors the opportunity to own shares in Tullow as well as benefit from the company�s operations across its global portfolio of assets.
In addition, it would further demonstrate Tullow's long-term commitment to Africa, especially Ghana.
Mr Dai Jones, President and General Manager of Tullow Ghana Limited, who announced at a press conference on Tuesday, said the company had a total of about 900 million shares.
He said the share price for the offer would soon be announced and a prospectus published on June 13th for individuals interested to apply through IC Securities brokerage firm from June 13th to July 4th this year.
He said Tullow is a lead player in the Jubilee field, which had enabled Ghana to become an oil producer, adding that plans were advanced to list shares in Uganda, where it had also made major discoveries.
Mr Dai noted that the company would be celebrating its golden jubilee in the oil and gas exploration. Mr Ike Duker, Executive Chairman of the company, said GSE was chosen because it has a long term strategy and track records of investing in Africa.
He said Ghana represented one of Tullow�s most valuable assets across its portfolio, adding that the listing would indicate how much the company value Africans as potential investors in Tullow.
Mrs Rosalind Kainyah, Vice President External Affairs, said the company had established a social enterprise fund to support community projects such as health, education, environment among other issues.
She said some of the funds generated through the share would be used to award scholarships to engineers in the local oil and gas sector to upgrade their capacity.
In addition, she said local and national businesses would also be supported as part of the company�s cooperate social responsibility.
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