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Friday, 09 January, 2009, 01:50 GMT | more >>

Gulf Keystone takes a bow



By Upstream staff 

Explorer Gulf Keystone Petroleum made a buoyant stock market debut today to lift its market value to over £140 million ($248 million) and perk up London's market for new issues.

Gulf Keystone raised £60 million in the initial public offering on London's junior AIM market, which will be used to accelerate its exploration and drilling operations in Algeria.

The shares were sold at 48 pence apiece in the IPO, and by 1330 GMT they had jumped 17% from their issue price to 56p, Reuters reported. About 2 million shares had changed hands.

Stockbroker Evolution Beeson Gregory is Gulf's nominated adviser.


Wednesday, 08 September, 2004, 14:38 GMT  | last updated: Thursday, 28 April, 2005, 11:58 GMT

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