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

Finance

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

Cecon Secures Finances to Complete Newbuild

Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors,

Libyan State Oil Firm NOC Will Remain Independent

Libya's Tripoli-based state firm National Oil Corp (NOC) will remain independent, it said on Thursday, in an apparent attempt to reassure foreign oil buyers it will stay out of the country's conflict.

News

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

USCG on Cuba Policy Changes

The U.S. Coast Guard missions and operations in the Southeast remain unchanged. The Coast Guard strongly discourages attempts to illegally enter the country by taking to the sea.

Damen Shipyards Galati wins Dutch Romanian Award

Damen Shipyards Galati has been presented with the Dutch Romanian Business Award for its Corporate Social Responsibility plan, particularly the Group’s community investment initiatives.

Offshore Energy

Nordic Yards Delivers 'Wind Server'

Nordic Yards officially handed over the offshore service vessel to the Danish company DBB Jack-Up Services A/S. During the handover ceremony, the ship was named ‘WIND SERVER’.

Reports on Rosneft Arctic Projects

On December 18, Member of Rosneft Board of Directors, special representative of President of the Russian Federation on international cooperation in the Arctic

Abigail Ross Hopper Named BOEM Director

Secretary of the Interior Sally Jewell today named Abigail Ross Hopper as the Director of the Bureau of Ocean Energy Management (BOEM), which manages the development

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.4415 sec (2 req/sec)