ARCO APPLIES FOR COMMON STOCK LISTING ON LONDON STOCK EXCHANGE; TRADING EXPECTED TO BEGIN NOV. 2
ARCO APPLIES FOR COMMON STOCK LISTING ON LONDON STOCK EXCHANGE; TRADING EXPECTED TO BEGIN NOV. 2 LOS ANGELES, Oct. 28 /PRNewswire/ -- ARCO (NYSE: ARC) announced today that it has applied for a listing of its common stock on the London Stock Exchange. Trading of ARCO stock is expected to begin Nov. 2, 1992, pending approval by the exchange. "A listing on the London Stock Exchange will enhance the accessibility of ARCO to European investors," said Lodwrick M. Cook, ARCO chairman and chief executive officer. "The London listing will also raise the company's profile in this important marketplace and improve our communications with existing European stockholders, customers and regulatory authorities. "ARCO is dedicated to growing its international presence, and our operations in the North Sea are a major component of that growth," Cook added. "Our objective is for continued growth in production and income from our European operations well into the next century." The company is currently listed on the Swiss exchanges in Geneva, Zurich and Basel, and on the New York and Pacific exchanges. Goldman Sachs International Ltd. sponsored ARCO's application to list on the London Stock Exchange. ARCO is a Los Angeles-based energy company focused on hydrocarbons.
Worldwide operations include oil and gas exploration and production, as well as petroleum refining and marketing. ARCO also mines and markets coal in the United States and Australia and has interests in two companies that manufacture and market petrochemicals.
-0- 10/28/92 /CONTACT: Albert Greenstein of ARCO, 213-486-3384; or Chris French of Goldman Sachs International, 44-71-774-4132, for ARCO/ (ARC) CO: ARCO ST: California IN: OIL SU:
EH-BP -- LA002 -- 5736 10/28/92 04:00 EST
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|Date:||Oct 28, 1992|
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