28/05/2010 The London Stock Exchange welcomes Great Eastern Energy to the Main Market
The London Stock Exchange today welcomed Great Eastern Energy Corporation Limited (ticker: GEEC) to mark the introduction of its GDRs to the Standard List and admission to trading on the Main Market.
Great Eastern Energy is a company involved in the exploration, development, production, distribution and sale of natural gas from coal seams, CBM, from the Company’s Block in Raniganj, West Bengal, India.
Great Eastern has grown and matured appreciably since it was admitted to AIM in 2005. No new GDRs have been placed at the time of the move.
Mr. YK Modi, Chairman and CEO of Great Eastern Energy said:
“AIM has been an excellent platform to support Great Eastern Energy’s development to date. We believe that moving the listing of our GDRs to the Main Market of the London Stock Exchange is a significant and appropriate step at a time when the market capitalisation of the Company has grown to over £570m and we enter a new phase of development with increasing production and distribution capability.”
Arden Partners plc has acted as financial adviser in relation to the move and will continue to act as financial adviser and joint broker to the Company. RBC Capital Markets will continue to act as joint broker to the Company.