Mozambique Stock Exchange negotiates bond issue with Petromoc

5 August 2010

Maputo, Mozambique, 5 Aug – Mozambican oil and gas company Petromoc is negotiating a bond issue with the Mozambique Stock Exchange (BVM), the chairman of the bourse, Jussub Nurmamad, told Macauhub.

The chairman of BVM said that bonds worth a total of US$20 million could be issued in two equal tranches of US$10 million this year and US$10 million in 2011.

“We are negotiating a bond issue with Petromoc,” Nurmamad said.

“It is a long process for us but soon there will be a conclusion,” he said.

Nurmamad, Friday told Macauhub in Maputo that the first special session of the initial public offering (IPO) for shares in insurance company Empresa Moçambicana de Seguros (Emose), would be held in November.

The Mozambican state is Emose’s biggest shareholder and plans to sell 10 percent of its shares. (macauhub)