RusPetro debuts on London market

New number: RusPetro joins London main market

worradmu/freedigitalphotos.net

Bill Lehane

, Bill Lehane

 24 January 2012 09:58 GMT

A new independent player has emerged on the London scene with the admission to trading of Russia-focused independent RusPetro to the main market.

The UK-registered company is an exploration and production company with assets in the large Krasnoleninsk field in Western Siberia, one of Russia’s largest oil producing regions.

Based on the pricing of the company’s initial public offering at 134 pence per share, RusPetro has an indicative market capitalisation of $676 million.

“At a time when very few IPOs have been completed, our successful listing shows that investor demand is still there for high quality stories such as our own”, commented RusPetro chief executive Donald Walcott in a statement.

After a conversion of existing debts, the…

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