M a r k e t N e w s

Tanzanian firm becomes first publicly owned oil, gas group in E Africa

Posted on : Tuesday , 12th August 2014

 Tanzania-based energy group Swala Oil & Gas has listed on the Dar es Salaam Stock Exchange (DSE), becoming the first publicly owned oil and gas company in East Africa. 

The company is the twentieth to list on the DSE and the second to list under the Enterprise Growth Market (EGM), an equity market specifically intended for small and medium-sized enterprises (SMEs) and start-ups.
 
The company listed on the EGM with 99-million shares after a successful initial public offering (IPO), which raised TZS6.65-billion.
The IPO was oversubscribed by nearly four-million shares and raised nearly TSZ2-billion more than the maximum subscription of TZS4.8-billion.
Former Tanzanian President Ali Hassan Mwinyi, who officiated the listing event, said Swala’s oversubscription indicated an investment appetite among Tanzanians and a growing confidence in the national bourse.
DSE CEO Moremi Marwa added that the EGM was aimed at providing SMEs access to the capital market.
“Listing on the DSE comes with transparency, good corporate practices and proper disclosures. Swala has made the right decision to join the family of companies aiming at being open and transparent to their shareholders, the public and the world at large,” he commented.
 
Swala chairperson Ernest Massawe noted that the listing was a step closer to the company realising its ambition of achieving a successful venture based on a public-private partnership.
“We are now ready to start our 2014 seismic programme and we look forward to fruitful results. I am confident that Swala, as a public company, will be able to capitalise on its achievements to date and continue to deliver for all its stakeholders,” he maintained.
 

Source : www.engineeringnews.co.za
Featured Companies
  • Bajaj Auto
  • Tire Group International, LLC.
  • /
  • TITAN Containers A/S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  • LINTEC doub- le screen technology and the worlds first asphalt mixing plant in 100% ISO sea containers.
  • We have been at the forefront of plate heat exchanger technology.
  • Seco actively contributes to improving your productivity and competitiveness in metal cutting machining.
  • We offers high quality, Competitive price and satisfied service always
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  • Prisma s.r.l. is an industrial reality, qualified in the study and the production of automatic doors for lift.
  • We manufacture; As Welded, Outer Diameter Conditioned, and Bead Hammered stainless steel tubing to ASTM standards We manufacture; As Welded, Outer Diameter Conditioned, and Bead Hammered stainless steel tubing to ASTM standards
  • Fuel Metering System
  • Catering for the most varied industrial storage requirements.
  •  Portwest is a global vertical company with over 100 years of experience in the design, manufacture and supply of protective clothing, safety footwear, specialist gloves and PPE to resellers and distributors at the most competitive prices.
  • Al Hosni Group International, has the experience and expertise in Construction, Manufacturing, Marketing, Hospitality, Chemicals, Gas services and environmental projects.
  • Shenzhen City, Riland Industrial Co., Ltd. is China
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • Automatic brick manufacturing machines
  • Mini plants of toilet paper rolls production
  • Air Conditioning Hire
  • FAS Flüssiggas-Anlagen GmbH, Salzgitter, is one of the leading manufacturers and suppliers of LPG fittings and components for complete stations for the storage
  • Save your power bill by instaling servo voltage stabilizer.
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • Hevt Duty Machinery
  •  TITAN Containers is one of the largest privately owned companies supplying containers for a multitude of applications.
  •  Ugur Seluloz Kimya A.S. is a leading Sodium Carboxymethyl Cellulose & Polyanionic Cellulose manufacturer, located in Turkey.
  • REGO GmbH is the Rego Distribution Center located in Central Germany.
  • Kenya Engineer is a Journal of the Institution of the Engineers of Kenya
  • Ravi Enterprise is a professionally managed organization, established as a reliable source of industrial heaters.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2019 Afrotrade