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Lamprell primed for AIM listing



By Upstream staff 

United Arab Emirates-based oil and gas services company Lamprell is planning to list on AIM, London's junior stock market, in October, it said today.

Lamprell said it would place shares with institutional investors as part of the listing.

The statement confirmed a Reuters report in which a source close to the company had said Lamprell aimed to raise up to £300 million ($560 million) and expected to have a market capitalisation of over £400 million.

Lamprell upgrades and refurbishes land and offshore rigs and is involved in construction and oilfield engineering. Its two main UAE facilities are in Port Khalid in Sharjah and Jebel Free Zone in Dubai.

JP Morgan Cazenove is acting as nominated adviser and broker to Lamprell and sole bookrunner to the offer.


Tuesday, 12 September, 2006, 07:39 GMT  | last updated: Tuesday, 12 September, 2006, 08:31 GMT

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