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Market analyst predicts successful Tullow share offer but…

The Head of Databank Research Nii Ampa-Sowah is predicting a very successful outcome of the share offer by Jubilee operator, Tullow Oil.  He said it may turn out to be one of the most successful in recent times.

The offer for the four million shares at 31 Ghana cedis each to raise 124 million Ghana cedis will be available for the next three weeks.

The listing will significantly boost the fortunes of the exchange.  Nii Ampah Sowah however told Joy Business one of the challenges the firm would face is how to bring some excitement in terms of trading in its shares after listing.

He said given that the company is offering only four million out of its total issued shares of 890 million, “issues concerning its liquidity will come into play and by liquidity we mean how often it will trade on the Ghana Stock Exchange.”

Nii Ampah Sowah also foresees a situation where some major institutions will take up some of the Tullow shares and when that happens trading will be very limited because institutions do not often trade their share, they rather hold them for a considerably long time.

But Chief Operating Officer for Tullow Oil Plc., Paul Mcdade told Joy Business it has an antidote to the issues raised by the Databank researcher.

He assured that “if there is a problem with liquidity on the Ghanaian market, we will definitely address it.” Tullow’s listing on July 27 will also make some history as the biggest company on the Ghana Stock Exchange. Tullow is currently worth 12 billion pounds. It will also be the first oil exploration and production firm to list on the local market.

Source: Joy Business/Ghana

9 Responses to Market analyst predicts successful Tullow share offer but…

  1. Michael Reply

    June 15, 2011 at 9:56 pm

    assuming i invest with 31cedi how much will be my interest?Thank you

    • kojo asare Reply

      June 16, 2011 at 1:16 pm

      shares dont attract interest. they rather attract dividends. it means when tullow declares profits at the end of the year on its operations it may declare a percentage of that profit as dividends.a dividend is a portion of the company’s profit paid to a shareholder in proportion to the number of shares held.

  2. Business Market Research Reply

    June 21, 2011 at 2:27 am

    Nice post. I was checking continuously this blog and I am impressed Very useful information specially the last part I care for such info a lot. I was seeking this particular information for a long time. Thank you and good luck.

  3. lady Reply

    June 21, 2011 at 8:29 am

    now, how do one invest/buy shares from abroad?
    Is this offer only for those living in Ghana only?

  4. Julian Asong kokroko Reply

    June 26, 2011 at 5:17 am

    the AGM according to tullow would be held in uk. how then do shareholders in GHANA have their proposals and contributions effected.

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  6. Abraham Ashley Reply

    July 15, 2012 at 4:29 pm

    Are shares still being sold?

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