UAE's Brooge Petroleum aims for London listing before year end- sources | Reuters:
UAE-based Brooge Petroleum and Gas Investment Co (BPGIC) plans to raise $400 million (311.69 million pounds) in an initial public offering in London, which could be potentially launched before the end of this year, three sources familiar with the deal said.
The aim of listing the company, engaged in oil products and crude storage infrastructure in the United Arab Emirates, abroad, choosing London as a potential venue, is to have a more diversified investor base, said the sources, who declined to be named due to commercial sensitivities.
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.
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