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-C Suisse, JPMorgan, RBC run Ophir Energy's London float.

BANKING AND CREDIT NEWS-July 8, 2011--C Suisse, JPMorgan, RBC run Ophir Energy's London float(C)2011 M2 COMMUNICATIONS http://www.m2.com

8 July 2011 - JPMorgan (NYSE:JPM), Credit Suisse and RBC Capital are handling the London listing of Africa-focused oil explorer Ophir Energy for gross proceeds of USD375m (EUR263m), Reuters said today.

The firm, backed by steel tycoon Lakshmi Mittal, on Friday priced the IPO at GBP250 (USD398.7/EUR279.3) per share, which gives it a valuation of GBP798.7m.

Sources told Reuters in June Ophir Energy had set an indicative price band of GBP250-280 per share.

The company said it would use the money raised from the IPO to fund its large-scale drilling programme in eastern Africa.

Ophir Energy runs assets in western Africa, Gabon, Madagascar and Somaliland.

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Publication:M2 Banking & Credit News (BCN)
Geographic Code:4EUUK
Date:Jul 8, 2011
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