Australia's CHAMP Drilling to List on London Bourse

MarineLink
Friday, March 07, 2014
File photo CCL3

Reuters –  Australia 's CHAMP Private Equity said it plans to bypass the local share market to list Shelf Drilling Ltd, the company it formed 16 months ago to run $1 billion worth of shallow water oil rigs, on the London Stock Exchange in May.

"We're in the process of moving for a listing of that business on the London Stock Exchange hopefully in mid-May," Nathaniel Childres , CHAMP managing director, told an Asian Venture Capital Journal conference on Friday.

Dubai -headquartered Shelf, which CHAMP set up in 2012 to buy 38 shallow-water drilling rigs from New York and Zurich -listed oil driller Transocean Ltd , had already produced "a very, very strong financial return", Childres said.

Childres did not give a reason for pursuing a listing in the U.K. instead of Australia and did not say how much Shelf hoped to raise via an initial public offer.

The planned float comes as private equity firms look to capitalise on an improvement in the market for initial public offerings.

"The equity market's definitely very strong at the moment and that's definitely putting a window around IPOs," Pacific Equity Partners Managing Director Tony Duthie told the conference.

Source: Reuters

 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Makes Change in Fort Pierce Inlet Safety Zone

The Coast Guard has made a change in the Fort Pierce Inlet safety zone Thursday afternoon. Recreational vessels with less than six-foot draft are now allowed

Holland America Line Wins Cruise Critic Cruisers’ Choice Awards

Holland America Line won top honors in four categories in the 2015 Cruise Critic Cruisers’ Choice Awards. The premium cruise line took first place in Best Dining

ST Engineering Y-O-Y Profits Slip

Singapore Technologies Engineering Ltd  reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.

Finance

ST Engineering Y-O-Y Profits Slip

Singapore Technologies Engineering Ltd  reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.

Dryships in the Red

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and

USCG Foundation Announces Scholarships

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced today that

Middle East

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

Propulsion Systems Ordered for Qatar Coastguard Vessels

Rolls-Royce waterjets and MTU diesels to power 17 new patrol boats for the Qatar Coastguard   Rolls-Royce has secured a £15.8 million contract to supply Rolls-Royce

Abu Dhabi Ship Building to Deliver 3 UAE Warships by 2016

Abu Dhabi Ship Building Company will deliver three Baynunah warships to the United Arab Emirates Navy by 2016 and is in discussions with other buyers to sell more, its chief executive said on Monday.

Offshore Energy

Dryships in the Red

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and

Van Oord, Falck Ink Safety Training Deal

Van Oord has signed a two year contract with Falck Safety Services for the provision of safety training.   Van Oord, a contractor for dredging, marine engineering and offshore energy projects,

Ulstein Verft Delivers 'Blue Queen’

On 24 February 2015, ‘Blue Queen’ a platform supply vessel of the PX121 design, was delivered to Blue Ship Invest from Ulstein Verft. This vessel is the first

 
 
Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2030 sec (5 req/sec)