Markets
Dana Gas picks banks for London IPO: IFR
DUBAI : UAE energy firm Dana Gas has picked four banks to arrange its planned listing on the London Stock Exchange, Thom
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The company has mandated Bank of America Merrill Lynch, Citi, Deutsche Bank and JP Morgan said IFR, a Thomson Reuters service, citing sources.
"A timeframe for when the offering could happen was difficult to give because of the uncertain global conditions," IFR said, adding that a stable September on global markets could see an issue come in October or November.
Dana, the Gulf's only listed natural gas company, said in April it would seek a London listing to gain a wider investor base and boost its stock value.
Dana, which last week reported a tripling in second quarter profits, has significant operations in the UAE, Iraq and Egypt, where unrest earlier this year affected operations.
Copyright Reuters, 2011