Reuters reported that UAE energy firm Dana Gas has picked four banks to arrange its planned listing on the London Stock Exchange.
IFR said that the company has mandated Bank of America Merrill Lynch, Citi, Deutsche Bank and JP Morgan. A timeframe for when the offering could happen was difficult to give because of the uncertain global conditions. 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 that 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 Q2 profits has significant operations in the UAE, Iraq and Egypt where unrest earlier this year affected operations.
