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Beginning Monday, June 13, Ghanaians can acquire a stake in Jubilee operator Tullow Oil, following its opening of a long awaited share offer.
According to a statement from the company, the share is being offered at GHS31, a three percent discount on the closing price of the stock on the London and Irish Stock Exchange last Friday.
Four million of the shares are on offer and investors would have to buy at least three shares.
IC securities are the lead brokers for the offer.
It’s Executive Director, Kwabena Osei Boateng said the company will also release the final prospectus, adding that the offer will be opened for three weeks, from June 13 to July 4.
“Once the offer period is closed, we would expect to start trading on the 27 July,” he added.
Mr Boateng said persons wishing to buy shares can acquire some from the IC Securities offices or Standard Charted Banks or selected branches of the Agric Development Bank.
Meanwhile, Tullow has indicated it may issue additional shares if there is an over subscription. It is expected to raise about GHS124 million from the sale of four million shares. The public offer if successful, could be the biggest ever on the GSE, even though it is a mere fraction of the company which is worth 12 billion pounds on the London Stock Exchange.
Source: Joy Business/Ghana
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Tullow Oil share offer opens at GHS31