| IPO Details |
| Company Profile |
| Summary of the Offer |
| Important Highlights |
| Important Dates |
| Advisers and Vendors |
| Historical Financials |
| IPO Prospectus |
| In the News |
| Name | Ghana Oil Company Limited (GOIL) |
| Security Type | Ordinary |
| Ticker | GOIL |
| Reuters Code | |
| ISIN | |
| Number of Employees | |
| Address | Junction of Kojo Thompson and Adjabeng Road |
| P O Box GP 3183 | |
| Accra, Ghana | |
| Website | www.goilonline.com |
| Phone | +233-21-688214/688215 |
| Fax | +233-21-688164/633102 |
| info@goilonline.com | |
| Nature of Business | Ghana Oil Company Limited (GOIL) was established on 14th June 1960 under the Companies Ordinance (CAP 193) as AGIP Ghana Limited with AGIP S.P.A of Italy having 855,000 shares and SNAM SPA also of Italy with 95,000 shares. On the 16th Dec e mber 1968 the 95,000-shares were transferred to Hydrocarbons International Holdings of Zurich. The Company is now full y owned by the government of Ghana which acquired it in 1974. Ministry of Energy represents the government in all its d eal ings with the Company. The Company’s main business is marketing and distribution of petroleum products in Ghana. The biggest chunk of its sales comes from the sale of Diesel and Gasoline. The Company is manned by a nine member mana gemen t team headed by the Managing Director. The marketing arms of the company are represented by four zonal offices namel y the Zonal Office South, Middle Belt (Kumasi), West (Takoradi) and North (Tamale). These offices also serve as d istribu tion points for the company’s products. However, the main distribution points are Liaison Office, Central Depot, and the Accra Plains Depot all within the Tema catchment area. |
| Offer Type | Initial Public Offering | ||||||||||||
| Offer Method | Offer for Subscription | ||||||||||||
| Purpose | The Goverment of Ghana is selling part of its stake in Ghana Oil Company Limited (GOIL):
The Company, on its part, is raising funds through the issue of new shares to carry out:
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| Utilization of Proceeds | An amount of GH˘ 17.96 million (˘179.63 billion) is envisaged to be raised out of which GH˘5.0 million (˘50.0 billion) will go to the Company to undertake the above-mentioned projects while the remainder goes to the selling shareholder. The application of the funds to be raised by the Company is as follows:
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| Target Investors | The Offer is being made to individuals and institutions resident in Ghana, individuals and institutions in foreign jurisdictions whose laws allow them to invest under the terms of the Offer. | ||||||||||||
| Par Value of each share | GHC 0 |
| Authorised Share Capital | 1,000,000,000 |
| Fully Paid Share Capital | 185,186,240 |
| Shares Offered for Sale | 89,815,184 |
| % of Fully Paid Shares Offered for Sale | 48.50% |
| Offer Price per Share | GHC 2,000.00 |
| Price Earning (PE) Ratio at Offer Price | |
| Dividend Yield at Offer Price | -- |
| Offer Open Date | 9:00 am Tuesday, Sep 04, 2007 |
| Offer Close Date | 5:00 pm Friday, Oct 05, 2007 |
| Results of Allocation Announced | Friday, Oct 19, 2007 |
| Dispatch of Share Certificates | Wednesday, Oct 24, 2007 |
| Dispatch of refund checks (if applicable) | Wednesday, Oct 24, 2007 |
| Commencement of Trading on Ghana Stock Exchange | 9:30 am Wednesday, Oct 31, 2007 |
| Key Numbers | |
| Fiscal Year End | December |
| Currency | -- (--) |
| Sales (in millions) | -- |
| 1 Year Sales Growth | -- |
| Annual Income Summary (in millions except EPS data) | ||||
| -- | -- | -- | December 31, 2006 | |
| Sales | -- | -- | -- | 1,921,596.00 |
| Pre-Tax Income | -- | -- | -- | 47,893.00 |
| Net Income | -- | -- | -- | 34,819.00 |
| Average Shares | -- | -- | -- | 30.76 |
| EPS | -- | -- | -- | 1,131.96 |
| Total DPS | -- | -- | -- | 530.07 |
| Quarterly Income Summary (in millions except EPS data) | ||||
| -- | -- | -- | -- | |
| Sales | -- | -- | -- | -- |
| Cost of Goods | -- | -- | -- | -- |
| Gross Profit | -- | -- | -- | -- |
| Pretax Income | -- | -- | -- | -- |
| Net Income | -- | -- | -- | -- |
| Average Shares | -- | -- | -- | -- |
| EPS | -- | -- | -- | -- |
| Annual Balance Sheet Summary (in millions) | ||||
| -- | -- | -- | December 31, 2006 | |
| Cash & Equivalents | -- | -- | -- | 19,071.00 |
| Total Current Assets | -- | -- | -- | 433,994.00 |
| Total Liabilities | -- | -- | -- | 449,440.00 |
| Share Holder Equity | -- | -- | -- | 136,768.00 |
| Long Term Debt | -- | -- | -- | 54,345.00 |
| Annual Consolidated Cash Flow (in millions) | ||||
| -- | -- | -- | December 31, 2006 | |
| Net cash flows generated from (used in) in operating activities | -- | -- | -- | -88,716.00 |
| Net cash flows generated from (used in) in investing activities | -- | -- | -- | -3,721.00 |
| Net cash flows generated from (used in) in financing activities | -- | -- | -- | 33,795.00 |
Ghana Oil Company Limited (GOIL) Prospectus |
| Ghana Oil Company Limited (GOIL) |