Kuwait Energy confirms London listing

Multinational

KUWAIT CITY, May 3, 2017 – Middle Eastern independent Kuwait Energy on Wednesday confirmed plans for an initial public offering (IPO), saying it would seek a listing on the London Stock Exchange.

Plans to that end first surfaced at the beginning of March, with sources familiar with the matter telling Bloomberg that Kuwait Energy had hired Bank of America to assist it in the process.

Labelling the London Stock Exchange as a “natural home for Kuwait Energy,” CEO Sara Akbar said the listing would offer the company “a stable platform from which to take the company to the next level of growth.”

The company will apply for admission in June, according to Reuters, and seek to qualify for a premium listing.

Kuwait Energy produced 26,941 boepd during the first quarter of 2017, mainly from its assets in Egypt and Iraq. It also has operations in Yemen and Oman.

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