Tullow Oil, the majority stakeholder in Ghana’s Jubilee oil field, the largest oil field to be discovered in West Africa in the last 10 to 15 years is planning to list on local stock exchanges in Ghana and Uganda, the Telegraph has reported citing Ugandan media sources.
According to the report, Tullow Oil has issued a statement in which its Uganda operations general manager Brian Glover said the company was exploring the possibility of listing on the Uganda Securities Exchange. “We had discussions last week and the idea was welcomed by all stakeholders,” he said.
Listing on the Uganda Security Exchange and the Ghana Stock Exchange would reflect the presence Tullow has built up in the two African countries in recent years and would give local people a better chance to get on its share register and potentially share in its success, the Irish Examiner has said.
Efforts by ghanabusinessnews.com to get a response from the Ghana Stock Exchange were unsuccessful.
By Emmanuel K. Dogbevi