The parent company of Jubilee partner, Kosmos Energy is reported to have raised more money than it expected in its initial public offering on Teusday. American news outlet, CNBC reports that Kosmos sold 33 million shares for 18 dollars each, raising 3 million more than the planned sale of 30 million shares at between 16 and 18 dollars each. The company which has about a 23 percent stake in the Jubilee field says in its IPO that it could be spending as much as 400 million dollars of the funds in Ghana this year on drilling, development and appraisals of its Deep Water Tano and West Cape Three Point’s blocks. Kosmos is also hoping to use proceeds to fund exploration and project development in Cameroon. The shares will trade on the New York Stock Exchange under the ticker KOS. Investment strategist had thought that the IPO was going to be challenged because the energy sector has recently fallen out of favor. Source: Joy Business/Ghana