Tullow is to launch a secondary listing in Ghana, offering about 4 million shares.
The share price and prospectus for the listing on the Ghana Stock Exchange (GSE) will be published on June 13th. Potential investors can apply for shares between June 13th and July 4th.
"We would like everyone in Ghana to have the opportunity to invest in the future performance of Tullow, especially as we embark upon further exciting exploration and development activities in Ghana and across our global portfolio," said chief executive Aidan Heavey.
"With the support of the Ghana Stock Exchange, the Securities and Exchange Commission and Ghanaian advisers and banks, we are making our shares accessible to anyone in Ghana who wishes to take part in the share offer.”
Tullow has two large appraisal and development programmes in Ghana and Uganda, and has exploration interests throughout Africa. In December, the Tullow celebrated first oil from its Jubilee field, located about 60km offshore Ghana.
"The listing, while small in the context of the Group as a whole, nevertheless demonstrates Tullow’s commitment to Ghana and the significance of Ghana within its portfolio," said Goodbody analyst Gerry Hennigan.
