Kuwait Energy plans London IPO

Kuwait Energy plans London IPO:

"Kuwait Energy, an oil and gas company with assets in the Middle East, will next week resurrect plans for an initial public offering in London that could value the group at about $1bn (£780m).

The company, which was set up in 2005 and has operations in Egypt, Iraq, Yemen and Oman, is planning to raise $250m through the offering, which will test investor appetite for assets in countries that have been struck by geopolitical difficulties in recent years.

Funds raised will be used to accelerate the company’s growth plans, particularly in southern Iraq. Bank of America Merrill Lynch, EFG Hermes and Numis are advising Kuwait Energy on the IPO."



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