Private placement completed
Posted: 26 September 2005
 Send this article
 Print this article
 The private placement of shares in newly created, Sharjah, UAE, based Dana Gas has been completed and the initial public offering IPO of 35 per cent of the company's $1,635 million capital is due to close on October 2. HSBC is acting as financial adviser and lead manager.
The private placement attracted strong demand from about 300 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 is open to both GCC and international investors. Dana Gas will own part of Crescent National Gas Company Limited, previously wholly owned by Crescent Petroleum.
After the IPO, Dana Gas plans to list its shares on the Abu Dhabi Stock Market with subsequent co-listings on other exchanges in the region to follow.
Posted by Editor Pipeline Magazine
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Reflex Publishing ME FZ LLC.
Send press release to info@pipelinedubai.com |
