Kuwait Energy Plans London IPO, Seeks $1 Billion Valuation

2 Mar 2017   Kuwait

Kuwait Energy Plc is planning an initial public offering in London that could value the oil and gas exploration business at as much as $1 billion, according to people familiar with the matter. The independent energy firm, with assets across Oman, Egypt, Iraq and Yemen, is working with Bank of America Corp. , the people said, asking not to be identified as the details aren’t public. Numis Corp. also has a role on the potential IPO, one of the people said. A listing could take place in the first half, though no final decisions have been made, they said. Kuwait Energy didn’t immediately respond to requests, while representatives for Bank of America, Numis declined to comment. The number of oil and gas companies going public dwindled after oil prices crashed in 2014. The last IPO of size in London was that of Nigerian oil and gas explorer Seplat Petroleum […]

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