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Article: BP to Offer Shares in Zambia
- Article from:
- Xinhua News Agency
- Article date:
- May 10, 2002
CopyrightCopyright 2002 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Global oil giant British Petroleum is to offer 125 million of its
shares in a Zambian subsidiary to business entities and ordinary
citizens starting next Monday, officials said on Friday.
Sonny Jakoet, acting managing director for the BP Zambia,
announced that Zambia is the first country in Africa where the
oilmarketing giant will be floating part of its shares to the
public,adding that the BP is happy to be part of the economic
empowermentprocess now underway in the country.
The BP Zambia Plc is currently a market leader in Zambia with a52-
percent share of the local market and its operations encompass a
network of 60 service stations.
The shares to go on the block belong to the Zambian ...