Greece's Energean lists in London, raises $460 mln for Israeli gas project - REUTERS

MARCH 16, 2018 / 11:39 AM

Reporting by Shadia Nasralla; Editing by Mark Potter and Adrian Croft

• Company valued at nearly $1 billion
• Shares trade flat (Recasts, adds quotes, details)

LONDON, March 16 (Reuters) - Greece’s Energean Oil & Gas listed on the London Stock Exchange on Friday, raising $460 million to develop two Israeli offshore gas fields in the latest milestone for the rapidly expanding eastern Mediterranean energy sector.

The firm offered 72.6 million new shares at 4.55 pounds ($6.35) apiece in the first flotation of an oil and gas producer on London’s main market since Zenith Energy in January 2017, according to London Stock Exchange data.

Energean shares were trading flat at 1213 GMT.

The company will receive around 330 million pounds ($460 million) from the listing, which gave Energean a market capitalisation of around $968 million, the company said in a statement.

Egypt to sell 24% shares in state-owned Enppi: oil minister - AMWAL AL GHAD / ZAWYA

29 March, 2017
By Mahmoud Shaaban

Egyptian government has approved listing 24 percent share of state-owned company Engineering for the Petroleum and Process Industries (Enppi) on the local stock market, Oil Minister Tarek el-Molla announced Tuesday.

NI Capital, a financial company affiliated to the National Investment Bank, will evaluate the fair value of Enppi ahead of starting initial public offering process, the Egyptian minister added.

Earlier, El-Molla said that the government were assessing some state-owned petroleum companies for their suitability for a possible listing on the Egyptian stock market or share issuances, adding that planned IPOs would take place before the end of the current financial year.