London Stock Exchange Eyes Aberdeen Oil and Gas

MarineLink.com
Tuesday, October 22, 2013
Rosalie Chadwick

The London Stock Exchange (LSE) is forecasting Aberdeen’s booming energy sector will be the source of a new wave of companies heading for an Initial Public Offering (IPO).

Renewed confidence and a swathe of foreign investment from South Korea, China and other first-time North Sea entrants has had a knock-on effect on E&P and oil and gas services companies.

This newfound vibrancy has directly influenced the LSE’s decision to hold an IPO Forum in Aberdeen this month (Thursday, October 31) bringing together a team of leading capital markets, fund management, accounting and legal experts.

Supported by PwC, legal firm Pinsent Masons and Cenkos Securities, the event is aimed at chairmen, chief executives, chief financial officers and other business leaders who are considering taking their companies to the market.

It will feature seasoned investment banking, fund management, accounting and legal experts and will also hear from highly respected entrepreneurs who have invaluable first-hand experience of raising capital on the Stock Exchange and life at the helm of a listed company.

Wood Group chairman Allister Langlands will discuss the benefits and pitfalls of life as a listed company, while Bruce Dingwall, chairman of Trinity Exploration & Production, will contrast his time at Venture Production, which listed on the LSE in 2002, and his current experience at Trinity.

Pinsent Masons Partner and Co-head of Capital Markets, Rosalie Chadwick, said, “The Stock Exchange has identified a number of potential IPO candidates in Aberdeen – companies which boast the key components regulators and investors look for in a listed company. Those qualities are top class management teams, strong internal controls, sound financials and excellent growth prospects.

“There are also certain core sectors the Stock Exchange view as well suited to the capital markets and oil and gas E&P and services companies have traditionally ticked these boxes.

“Another reason for the LSE's focus on Aberdeen is the wealth of top quality private equity backed companies in the region. Much of the increased IPO activity in 2013 has come from PE-driven exits because of the good returns currently available. An IPO could assist companies in achieving the balancing act of satisfying original investors whilst giving the business the capital and profile to take a step up to the next level.”  

Chadwick said for any business considering an IPO, preparation is absolutely vital and the IPO Forum will assist participants in determining whether a Listing is appropriate for their business requirements and consistent with their long-term strategic goals.

She added, “A thorough spring clean and putting in place a structure which will withstand the scrutiny of potential investors is key - whether that be securing key contracts and individuals or ensuring that financial controls and systems are sufficiently robust. During the process leading up to going to the market, this is something that advisors and investors look at very carefully.

“The bottom line is IPOs are very much an option for the right company just now and the capital markets are most certainly open for business.”

The IPO Forum is supported by the London Stock Exchange Group, PwC, Pinsent Masons and Cenkos Securities and will be held at Pinsent Masons LLP, 13 Queen’s Road, Aberdeen, on Thursday 31 October, 2013.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Orica Fined Heavily for Australian Pollution Incidents

Orica Australia Pty Ltd has been convicted and penalised $768,250 in relation to charges brought by the NSW Environment Protection Authority (EPA) for pollution

Canaveral Shipwreck Search Permit Granted to Seafarer's Quest

Research and recovery of historic shipwrecks experts Seafarer Exploration Corporation says that Seafarer's Quest, LLC has successfully been granted a three year

Höegh LNG Partners Launch IPO

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,

Finance

Orica Fined Heavily for Australian Pollution Incidents

Orica Australia Pty Ltd has been convicted and penalised $768,250 in relation to charges brought by the NSW Environment Protection Authority (EPA) for pollution

DMR Publish Latest Container Census Report

Drewry Maritime Research (DMR) says it has just published it's latest Container Census report, providing a wealth of information on the container equipment market.

Höegh LNG Partners Launch IPO

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,

News

DNV Type Approved Anchor Winch for the Arctic Prowler

JK Fabrication has landed DNV certification for its 40-30-3000-DNV series Anchor Winch. Culminating a two-year process, JK’s C-series winch was at last awarded

HHLA Creates 50 Jobs at Container Terminal Burchardkai

  Hamburger Hafen und Logistik AG (HHLA) said it needs 50 additional commercial employees for the container terminal Burchardkai (CTB). The company continues

Condition-Based Engine Monitoring Systems for MAN B&W Engines

ClassNK to participate in a joint project together with Mitsui Engineering & Shipbuilding Co., Ltd. and MES Technoservice Co., Ltd. to support research into

Offshore Energy

Russia, China May Develop Floating Nuclear Power Plants

Russia and the world's top energy user China may jointly develop six floating nuclear power plants (NPPs), Russia's nuclear export body said on Tuesday, a further

Floating Production: $1.2b Speculative FLNG Ordered

The floating production business continues to be very strong, particularly in the LNG gas processing sector.  Last month saw a speculatively ordered floating liquefaction plant – a $1.

Prelude By the Numbers

Out at sea, look! It’s a ship! It’s a floating rig! It’s SuperFLNG! While not “faster than a speeding bullet,” Shell’s shipzilla Prelude is certainly more powerful than a speeding locomotive,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.3221 sec (3 req/sec)