Joy Business has learnt that Tullow’s recent public offer has been successful. The Jubilee operator was however able to sell just about 3.4 million of the four million shares it floated.
The oil exploration firm was seeking to raise 124 million Ghana cedis with the sale of the 4 million shares at 31 Ghana cedis each and market watchers had all predicted a massive over subscription.
The offer is however adjudged successful as it sold far more than the minimum number of shares stated.
Provisional data submitted to the market regulator, the Securities and Exchange Commission on Monday indicates that 108 million Ghana cedis worth or 88 percent of the shares were sold with SSNIT taking almost half.
Joy Business sources say the remaining shares will later be sold on the market.
Source: Joy Business/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Five killed in Thailand market mass shooting
7 minutes -
Three dead after sewage overflow causes German train to derail, say police
7 minutes -
Google failed to warn 10 million of Turkey earthquake severity
9 minutes -
Confronting Corruption: Professor Bawole’s thoughtful discourse on Ghana’s ethical crisis
10 minutes -
Ho: 2025 Asogli yam festival unveils adventure, culture, and celebration
39 minutes -
ECG cautions public against unauthorised meter transfers
40 minutes -
‘COA-72 not approved by FDA for HIV clinical trials’ – Manufacturer corrects misleading reports
44 minutes -
Bawku’s Unfinished Lessons: The urgent call to activate Ghana’s education in emergency plan for continued learning
52 minutes -
Law school can’t be free for all – Acting Chief Justice
1 hour -
When the Guitar Wept and Ghana Lost Her Voice: A Satirical Dirge for Daddy Lumba
1 hour -
GES releases GH¢15.8 million for WASSCE practical
1 hour -
AfCFTA success tied to SME support and light industrialisation – Economists
1 hour -
Black Queens receive hero’s welcome after WAFCON bronze finish
2 hours -
Director General of NLA picks up top leadership award
2 hours -
Minority urges calm amid renewed violence in Bawku
2 hours