Kosmos Energy to list on Ghana Stock Exchange by end of year – Report

Kosmos Energy will list on the Ghana Stock Exchange (GSE) by the end of 2011, Reuters News Agency reports today September 7, 2011 citing an official of the Securities and Exchange Commission.

In June 2011, Kosmos said it seeks to raise about $50 million if it successfully floats shares on the GSE.

Mr Brian Maxted, President and Chief Executive Officer (CEO) of Kosmos LLC told reporters in Accra on June 14, 2011 that the value of the shares is around $50 million even though he did not give the exact number and cost of shares it will be floating on the GSE.

“We have just listed Tullow Oil and we are working on listing Kosmos. Kosmos will come on before the end of the year,” Mr Adu Anane-Antwi, Director General of Ghana’s Securities and Exchange Commission was quoted as telling Reuters after signing a cooperation agreement with Kenya’s capital markets regulator.

Mr Anane-Antwi told the new agency that “Investment advisors and the sponsoring brokers have been speaking to us. They are preparing their prospectus. Once we get the prospectus, in a matter of six weeks we will have approved it.”

If successful, Kosmos will be the second Jubilee partner to list on the GSE after Tullow Oil.

He also disclosed to the Reuters that the commodity exchange will start by September 2012.

By Ekow Quandzie