M a r k e t N e w s

Swala Oil & Gas debuts on DSE

Posted on : Monday , 18th August 2014

Swala Oil & Gas is now listed on the Dar es Salaam Stock Exchange (DSE) becoming the first public-owned oil and gas company in East Africa

SwalaThe former president of Tanzania Alhaji Ali Hassan Mwinyi rings the bell officiating the first trading day of Swala Oil & Gas on the DSE. (Image source: Swala Oil & Gas)
 
The Tanzania-based company is the 20th 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 enterprises (SMEs) and start-ups.
 
Swala Oil & Gas listed on the EGM with 99mn shares after initial public offer (IPO) which raised US$40,048,96bn. This IPO was oversubscribed by nearly four million shares and has raised nearly US$ 1,204,480 more than the maximum subscription of US$28,90,752.
 
Alhaji Ali Hassan Mwinyi, ex-president of Tanzania, said that Swala Oil & Gas’ oversubscription shows a great investment appetite amongst Tanzanians in investing in their country’s economy and a growing confidence in the national Stock Exchange.
 
Moremi Marwa, CEO of the DSE, added, “In October of 2013, the DSE introduced the EGM segment at the exchange whose main objective is to enable small and medium sized business access to the capital market. Swala Oil & Gas is the second company to list on EGM within a year of its launching. Listing on DSE comes with transparency, good corporate practices and proper disclosures.”
 
According to Ernest Massawe, chairman of Swala Oil & Gas, the listing on the EGM marked a new chapter for the company and another step forward in realising the ambition to achieve a successful venture based on private and public partnership.
“We wish to extend our thanks to all those who have made this possible: the regulators, our advisors and, most importantly, our new investors. The company is now ready to commence its 2014 seismic programme and we look forward to fruitful results. I am confident that Swala Oil & Gas, as a public company, will be able to capitalise on its achievements to date and continue to deliver for all its stakeholders,” he added.

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

Complete List  

Advertisers in previous issue:

  • Specialty and Custom Chemicals Exhibition
  •  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.
  • Kenya Engineer is a Journal of the Institution of the Engineers of Kenya
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • Pumping solutions, a technological potential.
  • Al Hosni Group International, has the experience and expertise in Construction, Manufacturing, Marketing, Hospitality, Chemicals, Gas services and environmental projects.
  • Manufacturer refrigerated-type air dryer, desiccant air dryer and compressed air in-line filter.
  • Manufacturing and marketing "aira" brand Valve Automation Products
  • We offers high quality, Competitive price and satisfied service always
  • A world class Rotary Gear Pumps for effective pumping and trasfer of all viscous & semi-viscous liquid like oils, chemicals, food products and more..
  • Narrowtex is a fully integrated company with processes such as warping, weaving, knitting, dyeing, finishing, make-up and packaging
  • Used Machinery
  • We have been at the forefront of plate heat exchanger technology.
  • ISISAN is a core member of a group who employs, approx 2000 people and active in pipe manufacturing, furniture, machine made carpets, flour mill and animal feed production.
  • Shenzhen City, Riland Industrial Co., Ltd. is China
  •  EuropCorr is a company specialized in design, manufacturing, sales and consultancy of corrosion monitoring systems mainly for petrochemical, oil and gas industry.
  • LINTEC doub- le screen technology and the worlds first asphalt mixing plant in 100% ISO sea containers.
  • Chemicals,Environmental & Sewage,Treatment Laborotory;Equipments Analytical Equipments & Instraments;etc.
  • Save your power bill by instaling servo voltage stabilizer.
  •  TITAN Containers is one of the largest privately owned companies supplying containers for a multitude of applications.
  • Pumps for dewatering, ground water control, sludge and slurry handling.
  • VEGA Grieshaber KG is a world-leading supplier of level, switching and pressure instrumentation.
  • A world leading name in Heat Transfer Technology
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • 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
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2023 Afrotrade