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UAE's Brooge Petroleum Plans to Float 40 pct in London IPO

Source: Reuters 9/16/2018, Location: Middle East

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The United Arab Emirates Brooge Petroleum & Gas Investment Co. plans to float 40 percent of its capital on the London Stock Exchange in October, BPGIC Chief Executive Officer Nicolaas Paardenkooper said.

BPGIC is looking to raise $400 million from Emirati and foreign investors in the IPO, to be conducted in a single tranche, he told Reuters in Dubai.

The IPO plan comes as the company plans to boost storage capacity for crude and oil products in the Fujairah oil hub in the UAE.

The company has already secured strategic investors and plans a road show next week in the United States and Europe, he said.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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