06/06/2008 The London Stock Exchange is pleased to welcome Indus Gas Limited (Indus) to AIM.
6 June 2008
The London Stock Exchange is pleased to welcome Indus Gas Limited (Indus) to AIM.
Indus is an oil & gas exploration and development company based in India, with a 90 per cent participating interest in a 4,026 km2 on-shore licence block in the mid Indus Basin, Rajasthan. The Company is expected to announce first gas production in 2009.
The IPO raised £25m through the placing of 15,243,922 ordinary shares by Arden Partners at 164p. Post new funds, the market capitalisation of Indus is circa £300m.
Commenting, Marc Holtzman, Non-Executive Chairman, said:
“We are extremely pleased to have successfully floated Indus on AIM. The float was extremely well supported by UK institutions. The money raised provides the Company with an immediate additional source of funds with which to further develop its assets towards first gas production in 2009. The listing also enhances the Company’s profile as well as provides a source of future funding that will help underpin its ongoing growth.”