Dana Gas private placement completed
Posted: 29 August 2005
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The private placement of shares in newly created, Sharjah-based Dana Gas has been completed, reported Gulf Today. The initial public offering IPO of 35 per cent of the company's US$1,635 million capital is due to be launched by mid-September. HSBC is acting as financial adviser and lead manager .
The private placement attracted strong demand from about 250 GCC individuals and institutions invited to participate in joining the founding shareholders, Crescent Petroleum, Sajaa Gas and United Gas Transmissions Company, all locally-based. The IPO will be open to both GCC and international investors. Dana Gas will own part of Crescent National Gas Company Limited, previously wholly owned by Crescent Petroleum.
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