Puma to be listed

LUANDA, September 15, 2017 – Puma Energy will likely be listed within five years, CFO Christophe Salmon told the media Thursday.
The company needs to improve its financial reporting and bring independent directors onto the board, he said, but added that preparations were underway. He did not disclose how much of the company, jointly owned by Trafigura and Sonangol, would be sold.
“Is Puma ready to do it now? The answer is no. Will it happen in the foreseeable future? Yes, probably,” Salmon was quoted as saying by Reuters.
In a December 2016 interview with the Financial Times, Sonangol head Isabel dos Santos said the NOC would not invest any more cash in Puma Energy. “When we look at the amount of profit and revenue generated by the company, it didn’t justify capitalising it any further,” she was quoted as saying when asked about the NOC’s refusal of Puma Energy’s recent USD 500-million fundraising effort. She expressed hope the company would list on the stock exchange. “Our hope now is to see a future for Puma where it will become more attractive to investors.”


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