What is an IPO?
IPO – An Initial Public Offering or a 'stock market launch' is a type of public offering where shares of stock in a company are sold to the general public, on a securities exchange, for the first time. Through this process, a private company transforms into a public company.
The TTNGL IPO
- TTNGL comprised 38,700,000 Class A shares and 116,100,000 Class B shares.
- TTNGL, controlling a 39% interest in PPGPL, divested 19% ownership in the gas processing plant to local investors (Held by NGC).
- The IPO facilitated the sale of 75,852,000 Class B shares (65.3 % of the total Class B shares) of TTNGL Ltd.
- The price of one (1) ordinary Class B share of the TTNGL was $20.
- Important Dates
- Commencement date - Monday August 10th, 2015.
- Final date for lodging applications - Wednesday September 9th, 2015.
- Listing Date - Monday October 19th, 2015.