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Swala Energy Ltd updates on listing on Dar es Salaam Stock Exchange


Tuesday, 22 Jul 2014 09:00pm EDT 

Swala Energy Ltd:Provides an update of the Initial Public Offer of Swala Oil & Gas (Tanzania) Plc that is in the process of listing on the Dar es Salaam Stock Exchange in Tanzania.Says the IPO closed on the of July 4, 2014 and has been oversubscribed, with 1,869 old and new shareholders applying for 13.3 million shares.Says the company is also participating in the IPO thereby reducing any dilution effect on the parent company.Says Swala Tanzania has now received approval from the Capital Markets & Securities Authority (CMSA) of Tanzania to approve the oversubscription amounts through what is referred to as a “green-shoe” option. 

Company Quote

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26 May 2015