Camgaz explodes share capital in response to fierce competition

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Camgaz explodes share capital in response to fierce competition

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- Thursday, 29 January 2015 15:05

(Business in Cameroon) - In June 2014, the Cameroonian liquefied gas company, commonly known as Camgaz, increased its share capital significantly, catapulting it from 10 million FCFA to 500 million FCFA – 490 million FCFA increase. This was revealed in a legal announcement on January 26, 2015. This capital increase was achieved through gap revaluation (381.3 million FCFA) and by drawing from the retained earnings account (108.6 million FCFA).

This capital increase should lead to major investment which is intended to enable the domestic gas sector’s number 2 company to keep its footing in an increasingly competitive market overflowing with production (Perenco-SNH) and storage (SCDP) project opportunities.

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