Tullow prices Ghanaian shares at small discount

13th Jun 2011 10:02

Oil and gas firm Tullow Oil said its shares will be floated on the Ghana stock exchange at 31 Ghana cedi per share, a 2.57% discount to the closing price of the UK shares on the last trading day prior to the announcement of the flotation price.Tullow is offering 4m shares to Ghanaian investors. The shares, to be listed on the Ghana Stock Exchange, represent 0.45% of the entire issued share capital of Tullow.Tullow's chief executive, Aidan Heavey, has previously said that the secondary listing in Ghana would offer Ghanaians "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."AB