29 Oct 2018, 08:18
Israel-focused Energean Oil & Gas PLC (LON:ENOG) has started trading on the Tel Aviv exchange through a secondary listing.
Energean raised £330mln when it floated on London’s main market in March and will maintain this as its primary listing, but said the Tel Aviv quote will broaden the shareholder base.
No new shares were issued in connection with the Tel Aviv listing but Energean expects its shares to be included within the TA-90 Index, which comprises the 36 - 125th most highly capitalised companies listed in Tel Aviv.
Shares will be fully transferable and interchangeable between the two stock markets.
Sunday, 21 October 2018
BP talks to sell Egypt assets to SDX fail. SDX Energy has “terminated” talks to acquire BP’s Egypt assets after failing to reach an agreement, the company said in a statement on Thursday (pdf). SDX gave no color on why the talks broke down. SDX Energy announced last month that it was in open talks with BP to acquire “a significant package of [its] assets in Egypt.” It was not not immediately clear which assets SDX hoped to acquire, but the company said the transaction would take the form of a reverse takeover, allowing SDX entry to the London Stock Exchange’s main market. BP had been said to be shopping for buyers since at least March as part of a plan to sell USD 2-3 bn’s worth of maturing assets this year.
BP isn’t exiting Egypt: The global oil major plans to invest USD 2 bn in Egypt next year, BP North Africa Regional President Hesham Mekawi told Al Shorouk in an interview last month. Among the assets in which it is investing is its Raven field, which is part of its West Nile concessions in Fayoum and Giza. The Raven gas field is expected to come online in 2H2019, a source from the Oil Ministry official told Youm7 on Thursday. Production is expected to reach 350 mcf/d of gas.
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.
10 May 2017
Angelina Rascouet
- Company hopes to list in U.K. capital in the ‘near future’
- Delek recently bought Britain’s Ithaca to expand in North Sea
Delek Group Ltd., the Israeli energy company that bought U.K. oil explorer Ithaca Energy Inc. this year, is seeking a London listing to help further overseas expansion.
“If Delek Group wants to be international, we have to be traded on an international exchange and I think London is one of the good places to be in,” Asaf Bartfeld, the company’s president and chief executive officer, said Monday in an interview. “In the near future, we plan to be listed in London.”
