State refinery, Tema Oil Refinery (TOR) is considering listing on the Ghana Stock Exchange by 2014.
The move is part of management's strategy to privatize the firm and make it more profitable.
The plan must however be approved by government which currently wholly owns the refinery.
Managing Director, Ato Ampia however tells Joy Business there are still some issues that need to be addressed, before they go public.
“The first thing to do is that TOR show the path to progress that adds value and that would boost investor confidence. After we have done these little these, little but are so much valued, that will boost the value of TOR's shares at IPO and make sure that government get as much as possible. We want to do it but the timing is when TOR has its image right, has its plan right and its operations right.”
The refinery says it needs about 900 million dollars to turn around its fortunes.
TOR will then join other state institutions like Ghana Commercial Bank, Cocoa Processing Company and Ghana Oil which have been privatized in similar manner.
State power generator, Volta River Authority is also looking at the option of listing on stock market.
We’ll no longer tolerate your empty, unwarranted attacks – TUC blasts Prof Adei
Bawumia donates GHc200,000 to support Madina fire victims
IMF to disburse US$360million third tranche to Ghana without creditors MoU
Truck owner share insights into train collision incident
Paramount chief of Bassare Traditional Area passes on
Two teachers in court over alleged illegal possession of BECE papers
Sunyani: Victim allegedly shot by traditional warriors appeals for justice
Mahama vows to scrap teacher licensure exams, review Free SHS policy
Government will replace burnt Madina shops with a new three-story, 120-store fac...
