Camac Energy lists on South African bourse

Camac Energy, a US-based oil and gas exploration and production company focused on energy resources in Africa, on Monday became the first new company to list on the Johannesburg Stock Exchange (JSE) in 2014.

The company, which is headquartered in Houston, Texas and has a primary listing on the New York Stock Exchange, began trading on the main board of the JSE, making its oil and gas opportunities and shares available to local investors for the first time.

Camac Energy’s portfolio includes eight licences, including production and other projects off the coast of Nigeria, and onshore and offshore exploration licences in Kenya and off the coast of Gambia.

“The listing in Johannesburg gives Camac Energy a presence on Africa’s biggest bourse and access to a large and diverse investor base with an array of investors looking to gain exposure to the African continent,” Zeona Jacobs, director of issuer and investor relations at the JSE, said in a statement on Monday.

Camac Energy CEO Kase Lawal said the JSE listing “signifies a new chapter in our company’s history and allows access to capital on the continent, as well as providing a new option for investors in terms of diversity”.

Earlier this month, the government-owned South African Public Investment Corporation (PIC) secured a 30% shareholding in Camac Energy through a US$270-million private placement.

Lawal said on Monday that his company was “honoured that the PIC has invested in our growth plans with confidence, and we welcome them on board as a significant strategic partner on our exciting journey ahead”.

Noah Greenhill, head of corporate finance at Sasfin Capital, which acted as Camac Energy’s corporate adviser and sponsor for its listing, said it was important that the JSE “lists businesses with assets in Africa. As Sasfin, we are playing our role in bringing African assets to the JSE.”

SAinfo reporter