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Gold/Mining/Energy : Petrokazakhstan Inc.
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To: forecaster who wrote (2297)8/20/2003 2:26:21 PM
From: Larry Dambra  Read Replies (1) of 2357
 
Article clipped from today's 8/20 Scotsman

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City cheer

NEWS that a Canadian energy company with oil reserves in eastern Europe is considering a stock market listing in London provides a summer fillip to the Square Mile for three reasons.

PetroKazakhstan plans to make the most of institutions appetite for emerging markets with a secondary listing in London within a month. After the successful float of Yell, the former BT-owned phone directories business, the market has been waiting for the next chunky initial public offering to provide more evidence that confidence in equities is returning.

Valued at £800m, Petro-Kazakhstan will also bridge the gap in the energy sector between giants such as BP and Shell and independent minnows such as Edinburgh Oil & Gas and Ramco Energy. Since Lasmo and Enterprise Oil were taken over virtually two years ago, the mid-cap sector has been rather empty.

Nicholas Gay, the group’s finance director, wants to come to Europe to broaden the group’s shareholder base. His decision underlines - in Canadian eyes at least - that the London market is hanging on to its pre-eminent reputation for fundraising over the likes of Frankfurt and Paris.

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Full text can be found at

thescotsman.co.uk

Regards,

Larry
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