Petroleum Africa
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Sunday, August 6, 2017
Kosmos Energy intends to pursue a secondary listing on the standard segment of the main market of the LSE.
In 2011, Kosmos undertook an IPO of its shares, with trading on the NYSE on May 11, 2011. Kosmos believes there are a number of European investment funds and specialist international oil and gas investors that are currently unable to hold Kosmos’ shares due to their listing outside of a European regulated market.
Kosmos anticipates that the number of analysts providing independent investment research on the company will increase following the listing of Kosmos’ shares on the LSE, in line with the level of analyst coverage that the company’s London-listed peers currently attract.
Andrew G. Inglis, chairman and CEO of Kosmos Energy, said: “We believe that Kosmos represents a compelling investment proposition both in terms of its upcoming high-impact exploration program and the development of recent gas discoveries. We have experienced tremendous growth over the years driven by increasing production and cash flow in Ghana and recent discoveries offshore Mauritania and Senegal.
“This secondary listing is the next step in the company’s evolution. Our NYSE listing has enabled Kosmos to attract blue chip investors and given us access to significant opportunities. We selected the LSE for our secondary listing because of its strong liquidity, reputation for transparency, and participants’ knowledge of the role of frontier exploration and development in our industry.”
The listing process is expected to be completed later in Q3 2017
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