Gulf Marine Services shares gain up to 4% on London debut | The National

Gulf Marine Services shares gain up to 4% on London debut | The National:



"Shares of Gulf Marine Services, the latest UAE company to list abroad, gained as much as 4 per cent on their first day of public trading in London.



By midafternoon, the offshore vessel provider was trading at 151.25 pence a share, an overall increase of 12 per cent over Friday’s flotation to a limited circle of investors. The IPO values the company at US$787.1 million, below the company’s upper range estimate of $1 billion.



“We’ve gone for a premium listing and it was as successful as we hoped,” said Duncan Anderson, the chief executive. “The actual position was effectively 100 per cent oversubscribed.”"



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