Kosmos Energy plans to float some of its shares valued at about 50 million dollars on the Ghana Stock Exchange sometime between September and October this year.
Jubilee partner Tullow Oil, on Monday June 13, 2011, opened its offer of 4 million dollars of shares at GH�31 each to raise GH� 124 million. Kosmos, valued between $6 billion and $10 billion is currently working with the GSE before finally deciding on the total number of shares to be floated and other relevant parameters.
Officials however believe the guidelines may not differ materially from those that govern the Tullow offer. Kosmos�s float comes after its Initial Public Officer (IPO) of $30 million shares on the New York stock exchange which was oversubscribed by 3 million shares at $18 per share in May.
In an interview with Citi Business News Bryan Maxted, Chief Executive Officer, said the company would target investments in Ghana�s oil fields in 2011.
�We�ve got capital to spend on Jubilee Field, on discoveries we made as well as explorations so there�re large amounts to spend in Ghana over the next two or three years. "It is because Ghana�s the most successful country we�ve had since we started the company.�
The company says to plan to float shares and list on the Ghana Stock Exchange among other activities indicates its commitment to long term operations in the country.
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