{"id":1499,"date":"2014-07-24T16:18:59","date_gmt":"2014-07-24T13:18:59","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=1499"},"modified":"2015-09-04T09:48:05","modified_gmt":"2015-09-04T09:48:05","slug":"swala-energy-ipo-in-tanzania-oversubscribed","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-ipo-in-tanzania-oversubscribed\/","title":{"rendered":"Swala Energy IPO in Tanzania oversubscribed"},"content":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n

Swala Energy Limited has provided an update of the Initial Public Offer (IPO) of is Tanzanian subsidiary Swala Oil & Gas (Tanzania) Plc that is in the process of listing on the Dar es Salaam Stock Exchange in Tanzania.<\/p>\n

The IPO which closed on the 4th of July 2014 d has been oversubscribed, with 1,869 old and new shareholders applying for 13.3 million shares.The Company is also participating in the IPO thereby reducing any dilution effect on the parent Company.<\/p>\n

Swala Tanzania has now received approval from the Capital Markets & Securities Authority (CMSA) of Tanzania to approve the oversubscription amounts through what is referred to as a \u201cgreen-shoe\u201d option.<\/p>\n

Following Swala Tanzania\u2019s listing the changes to the Company\u2019s direct and indirect equity positions in its Tanzanian assets will be:<\/p>\n

\"swala<\/a><\/p>\n

Dr. David Mestres Ridge, CEO, said: \u201cThe success of the Swala Tanzania IPO supports the Company\u2019s decision to be part of the growing East African capital markets. With a need to budget for the possibility of having to fund all or part of the Swala group\u2019s contribution to the upcoming seismic survey in Pangani and Kilosa-Kilombero the Company\u2019s decision to instead advance the required funds through the IPO has allowed it to retained a reasonable level of equity and participation in these exciting projects.\u201d<\/p>\n

The IPO by\u00a0Swala Oil and Gas was to open the company’s shares to the Tanzanian public selling 9.6 million shares at TZS 500 (approx. $0.31) a share as it seeks to get additional funds to the working capital.<\/p>\n

Swala Energy is an operator in two blocks in East Africa Community\u2019s largest country including the Pangani block near the border with Kenya where the company has 32.5 percent interest and a net acreage of 5,576 km2 as well as a 32.5 percent interest in the Kilosa-Kilombero block in Central Tanzania spanning an acreage of 5,745 km2.<\/p>\n

Swala plans a 200km seismic acquisition in the Pangani block in July while a 500km seismic acquisition is set for October on the Kilosa-Kilombero block while drilling in both blocks is planne for 2015.<\/p>\n

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n","protected":false},"excerpt":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’] Swala Energy Limited has provided an update of the Initial Public Offer (IPO) of is Tanzanian subsidiary Swala Oil & Gas (Tanzania) Plc that is in the process … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":1171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[399,565,1136,1177,1966,2447,2453,2466],"class_list":["post-1499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-capital-markets-securities-authority-cmsa-of-tanzania","tag-david-mestres-ridge","tag-initial-public-offer","tag-ipo","tag-pangani","tag-swala-energy","tag-swala-tanzania","tag-tanzania","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-ob","jetpack-related-posts":[{"id":1170,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-and-gas-to-raise-kshs-260-million-in-tanzanian-ipo\/","url_meta":{"origin":1499,"position":0},"title":"Swala Oil and Gas to raise Kshs.260 million in Tanzanian IPO","author":"Samuel Kamau Mbote","date":"June 9, 2014","format":false,"excerpt":"Swala Oil and Gas will starting today open its shares to the Tanzanian public selling 9.6 million shares at TZS 500 (approx. $0.31) a share as it seeks to get additional funds to the working capital. The initial public offer that starts today will close on 4th July with the\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1602,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-and-gas-tanzania-lists-on-the-dar-es-salaam-stock-exchange\/","url_meta":{"origin":1499,"position":1},"title":"Swala Oil and Gas Tanzania lists on the Dar es Salaam stock exchange","author":"Samuel Kamau Mbote","date":"August 12, 2014","format":false,"excerpt":"Swala Oil & Gas (Tanzania) Plc has listed on the Dar es Salaam Stock Exchange becoming the first public owned Oil and Gas Company in East Africa. The company is the 20th to list on the DSE and the 2nd to list under the Enterprise Growth Market an equity market\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/swala-listing.jpg?fit=500%2C332&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1229,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-and-gas-tanzania-to-establish-trust-fund\/","url_meta":{"origin":1499,"position":2},"title":"Swala Oil and Gas Tanzania to establish trust fund","author":"Samuel Kamau Mbote","date":"June 16, 2014","format":false,"excerpt":"Swala oil and gas Tanzania will establish a trust fund that will be used to collect proceeds from sales in oil and gas for communities in areas where extraction is to happen. Speaking during an interview with The Guardian the company\u2019s CEO Dr. David Ridge the fund will target mainly\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6653,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-set-acquire-first-producing-assets-tanzania\/","url_meta":{"origin":1499,"position":3},"title":"Swala Energy Set To Acquire First Producing Asset in Tanzania","author":"","date":"January 3, 2018","format":false,"excerpt":"Swala Oil and Gas entered into an agreement with Orca Exploration to acquire up to 40% \u00a0interest in the Songo Songo producing assets currently held by the international finance corporation (IFC) for $130 million based on an agreed value of US$325 million as earlier announced in August. According to Orca\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/songo-songo-field.jpg?fit=355%2C378&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3217,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-gets-ministerial-consent-tanzania-farm-outs\/","url_meta":{"origin":1499,"position":4},"title":"Swala Energy gets Ministerial Consent for Tanzania Farm-Outs","author":"","date":"August 6, 2015","format":false,"excerpt":"Swala Energy Limited has reported that its subsidiary company Swala Oil and Gas (Tanzania) Plc has received a no objection notice from the Tanzanian Ministry of Energy and Mines to the farm-out of 50% of its interests in the Kilosa-Kilombero and Pangani licences to Tata Petrodyne Limited (TPL). 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Tata Sons Limited is the holding company of the Tata\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=1499"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1499\/revisions"}],"predecessor-version":[{"id":3419,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1499\/revisions\/3419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1171"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=1499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=1499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=1499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}