Swala Oil and Gas (Tanzania) Plc "Swala", a public company incorporated in the United Republic of Tanzania is looking to raise TZS 4.8 billion capital from the public through a sale of 9.6 million shares at a price of TZS 500 per share. Swala's principal activity is the exploration of oil and gas "hydrocarbons" reserves in Tanzania.
The funds that will be collected from the IPO will provide additional funds to the working capital.
The Offer opens on 9th June 2014 and closes on 4th July 2014. The shares of SWALA will subsequently be listed on the Enterprise Growth Market Segment (EGM) of the Dar es Salaam Stock Exchange. The trading of SWALA shares after the closure of the IPO will be done at the Dar es Salaam Stock Exchange through Brokers.
