[Tanzania] Swala Oil to list at the Stock Exchange of Mauritius
The Stock Exchange of Mauritius has approved the listing of Swala Oil & Gas from Tanzania which will now see the listing of the company’s $50 million corporate bonds.
The company first announced the move to Mauritius on the 2nd of July 2018 and its advisors intend to proceed to finalising the financing for the second and third tranches of the transaction with Orca Exploration Group Inc.
The Company's shares remain suspended on the Dar es Salaam Stock Exchange pursuant to its announcement of August 6.
Dr. David Mestres Ridge Swala CEO said: “We are pleased to have concluded the listing process on a stock exchange such as that of Mauritius and will now start placing the bonds with sophisticated investors and Company shareholders with whom we have engaged constantly over the past months. We aim to complete the placing over the next two to three weeks, reflecting the interest that this first Tanzanian oil and gas industry bond has awakened in Tanzania and elsewhere."