22/07/2011 The London Stock Exchange congratulates Kentz Corporation Limited on its transfer from AIM to the Main Market
The London Stock Exchange would like to congratulate Kentz Corporation Limited on the successful graduation of its ordinary shares from AIM to the Main Market as a Premium Listed Company.
Kentz is a global engineering specialist solutions provider, which serves a blue chip client base primarily in the oil and gas, petrochemical and mining and metals sectors. In the year ending December 2010, the company generated revenues of $1.06 billion and profit before tax of $67.5 million.
Kentz has over 11,500 employees in 27 countries. Its three main business lines are; specialist engineering, procurement and construction (EPC) services, construction, and technical support services.
The Admission will take place with an introduction of Kentz's existing ordinary shares with no new ordinary shares being issued. The Company's stock code will continue to be LSE: KENZ, and its ISIN will be JE00B28ZGP75. There are expected to be 116,371,470 ordinary shares in issue on Admission.
Kentz admitted to AIM on 5 February 2008, with a share price of 115 pence per share and a market
capitalisation of £134m. It closed last night with a share price of 460 pence per share and a market capitalisation of £535m.
Hugh O’Donnell, Chief Executive Officer of Kentz Group, commented: "It has been a successful three years for Kentz on AIM and we have benefitted from a solid base of shareholders that seem to like our story. We very much look forward to participation in the Main Market and to the next stage of development for Kentz."
Evolution Securities Limited and Morgan Stanley & Co. International plc were Joint Sponsors in relation to the Admission.