#Israel's Delek Mulls London Listing for Major Gas Holdings - Bloomberg

Israel's Delek Mulls London Listing for Major Gas Holdings - Bloomberg:

Delek Drilling LP may create a separate company from its holdings in major Israeli and Cypriot natural gas fields and then list shares in the new business on the London Stock Exchange.

The new company would hold stakes in Leviathan, Israel’s largest gas deposit, and Aphrodite, a reservoir in nearby Cyprus, Delek said in an emailed statement. The Israeli energy explorer is seeking to combine supplies from both fields and sell them to a liquefied natural gas plant in Egypt.

“If they succeed in the spinoff and the sale on the London Stock Exchange and bring in new investors, that will be a positive development for the value of the shares, a positive for both the shareholders and Delek Group,” said Noam Pincu, an analyst at Psagot Investment House Ltd., who covers the companies. Delek Group Ltd., the parent of Delek Drilling, had tried to sell shares in London in 2014 but was unsuccessful, he said.