Swala Oil And Gas Tanzania Plc, subsidiary of Australian Swala Energy Limited, was authorized by Tanzanian Capital Markets and Securities Authority (CMSA) to list at Dar Es Salaam Stock Exchange (DSE) Enterprise Growth Market (EGM).
Swala Tanzania is offering to the public up to 9.6 million shares at TZS 500 per share and hope to raise up to TZS 4.8 billion.
The Initial Pubblic offering (IPO) was set to start Today, Monday 9th June 2014 and close on Friday 4th July 2014.
Swala Tanzania is an oil and gas exploration company with interests in two licenses in Tanzania Swala Oil And Gas Tanzania is a public company incorporated in July 2011.
Swala Oil And Gas Tanzania is a public company incorporated in July 2011.
Swala Energy owns 65.13% of the company while the rest of the shares are held by Ercon Holdings and other investors.
Swala Energy owns 65.13% of the company while the rest of the shares are held by Ercon Holdings and other investors of Kilosa-Kilombero and Pangani.
In addition to Tanzania, Swala Energy currently holds a number of exploration licenses of assets and subsidiary companies in Sub-Saharan Africa, including Kenya and Zambia.
“ Tanzania has seen considerable increase in demand for access by international oil exploration companies in recent times. The directors [of Swala] believe that following completion of the offer, Swala will be well positioned to take advantage of this heightened interest”. said Ernest Massawe, a Non-Executive Chairman of Swala Oil and as Tanzania.
You can Download the prospectus and other information by clicking the below Link