{
  "id": 16498272,
  "title": "TOR eyes stock market listing as it tackles $517m debt",
  "url": "https://urgent.news/2026/10/25/tor-eyes-stock-market-listing-as-it-tackles-517m-debt",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-25T16:38:42.000Z",
  "source": {
    "name": "Joy Business",
    "slug": "joy-business",
    "url": "https://www.myjoyonline.com/tor-eyes-stock-market-listing-as-it-tackles-517m-debt/"
  },
  "original_language": "en",
  "account": "Tema Oil Refinery (TOR) is exploring the possibility of listing its shares on the Ghana Stock Exchange, as it seeks additional funding to tackle a $517 million debt load. Managing Director Edmond Kombat made this announcement following a visit by an International Monetary Fund (IMF) delegation, headed by the Fund’s Ghana Resident Representative, Dr Adrian Alter. The delegation's visit aimed to evaluate rehabilitation efforts and gauge the refinery's progress in restoring operational stability and financial health. The IMF mission was part of broader consultations with government officials and state-owned enterprises.\n\nKombat revealed that a potential stock market listing would enable Ghanaian and other investors to acquire shares in TOR, thereby injecting much-needed capital into the company's operations and expansion plans. Speaking to the IMF delegation, Kombat highlighted that since his appointment in May 2025, the management has relied solely on internally generated funds to sustain TOR's activities. \"Since this new management took over, we have not received a dime from government. Every single thing is done through our internally generated funds,\" he asserted.\n\nKombat emphasized the management's focus on financial prudence, operational enhancements, and the rehabilitation of essential facilities as key priorities.",
  "summary": "The Tema Oil Refinery (TOR) is considering a listing on the Ghana Stock Exchange as management seeks fresh investment while pursuing the restructuring of an inherited debt burden of approximately $517 million.",
  "key_points": [
    "Tema Oil Refinery (TOR) explores stock market listing to address $517 million debt.",
    "Managing Director Edmond Kombat announces potential listing to inject capital.",
    "TOR relies solely on internally generated funds since May 2025."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}