Ophir Energy lists on London Stock Exchange
- Oil & Gas explorer with major African discoveries joins the Main Market today
- Ophir Energy raises $375m at admission
The London Stock Exchange Group today welcomed Ophir Energy plc to the Main Market. The company listed on the Premium segment of the Main Market and raised $375 million at admission and has a market capitalisation of $1.28 billion.
Ophir Energy is an independent oil and gas exploration company with assets in a number of African countries particularly Tanzania and Equatorial Guinea. Since its foundation in 2004, the company has acquired an extensive portfolio of exploration interests consisting of 17 projects in nine jurisdictions in Africa. The company is one of the top five holders of deepwater exploration acreage in Africa in terms of net area.
Tracey Pierce, Director of Equity Primary Markets at the London Stock Exchange Group, said:
“We are delighted to welcome Ophir Energy to the London Stock Exchange. This listing reinforces London’s position as the natural home for the global oil & gas industry and also highlights its role as the leading equity finance centre for the industrial development of Africa.”
Nick Cooper, Managing Director or Ophir Energy said:
“I am delighted to announce the successful completion of our IPO and the unconditional trading of all shares this morning on the Main Market of the London Stock Exchange. We are extremely pleased with the demand and reaction shown by investors to Ophir in what is a challenging stock market environment. I would like to welcome all of our new investors and thank our existing shareholders for the strong support they have shown the Company during the process.
“We have a very busy period ahead of us as we grow Ophir to become a leading independent African exploration and production company. The proceeds raised will be applied to our extensive exploration and appraisal drilling campaigns over the next 18 months which offer the potential to deliver significant value to our new and existing shareholders.”
To date, the majority of Ophir Energy’s interests lie offshore in water depths greater than 250m and are thus classified as "deepwater". So far it has made five discoveries of natural gas off Tanzania & Equatorial Guinea and has recently started drilling in the offshore Kora Prospect in the Senegal Guinea Bissau Common Zone.
Since 2007 Oil and Gas sector companies have raised over US $16.6bn on London’s markets. A London listing gives unparalleled global visibility to companies in this sector with an average of 4.4 analysts covering every company as opposed to 2.93 in Hong Kong and only 1.05 in New York.
The listing of Ophir Energy brings the number of companies with major operations in sub-Saharan Africa listed on the London Stock Exchange to 79.
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Notes to editors:
Global Coordinator, Joint Bookrunner and Lead Manager: Credit-Suisse
Joint Bookrunner and Lead Manager: J.P. Morgan Cazenove
Joint Bookrunner RBC: Capital Markets
Syndicate member: Oriel Securities
Syndicate member: Standard Bank
Financial Advisor to the Company: Lexicon Partners
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.