By Mikaili Sseppuya and Mark Muhumuza
Monday, 15 August 2011
The announcement last week that Tullow Oil PLC would cross list its stock on the Uganda Securities Exchange (USE) has been welcomed with enthusiasm by the industry players and investors alike.
Tullow is expected to offer about 804 million shares on the Ugandan bourse in April if negotiations are concluded.
Mr. Simon Rutega, the Uganda Securities Exchange (USE) Chief Executive said Tullow was still working on the requirements for approval. Market analysts at USE said that buying shares in the oil company would be a worthwhile investment.
“The market forces that would drive this listing would be determined by the company’s performance in its oil and gas industry,” a market analyst from MBEA research and brokerage firm said.
“Tullow is still making more oil and gas discoveries around the world especially in Africa, and it is these discoveries that have continued to keep the share price of Tullow rising,” the analyst added. Mr. Kenneth Kitariko, the General Manager African Alliance confirmed his company will handle the | More » |
