14 November 2007
The London Stock Exchange is delighted to welcome Eurasia Drilling Company Limited to the Main Market.
Eurasia Drilling Company is the largest independent provider of onshore drilling services in Russia, providing onshore integrated well construction services and workover services. In addition, the company provides offshore drilling services in the Caspian Sea.
The company’s onshore integrated well construction services and workover services are available to local and international oil and gas companies primarily in Russia, and the offshore drilling services to Russian and international oil and gas companies in the Russian, Kazakh and Turkmen sectors of the Caspian Sea.
The GDRs were priced at US$23.50 per share, valuing the company at US$3.5bn.
Eurasia Drilling's GDRs are now trading on the IOB following their admission to the Main Market of the London Stock Exchange.
JP Morgan and UBS are the joint bookrunners and Alfa Capital is the co-manager to the offering.