Instinctif supports largest oil & gas London IPO in nearly four years

Following the publication of its Intention to Float announced last month, our client Energean Oil & Gas plc has successfully completed a Premium Listing on the Main Board of the London Stock Exchange. With an initial market capitalisation of approximately £695 million, and a successful capital raise of $460 million (USD), it is the largest London IPO in the oil and gas sector in four years and the biggest London IPO of 2018.

We have worked with Energean intermittently since 2011, depending on their PR and IR needs at different stages of their development. Our most recent IPO brief commenced in January 2017, which saw us help raise their profile and support their growth plan through a series of key deals in the lead-up to IPO. With the 2014 crash in oil prices and the challenging investment climate for the sector, Energean’s flotation on 16th March is a significant achievement.

Energean is an independent oil and gas exploration and production (E&P) company, focused on a promising portfolio of production, development, and exploration assets in the Eastern Mediterranean region. Founded in 2007 with the acquisition of offshore licences in Greece, Energean has grown to almost 400 employees and holds E&P licences in Greece, Israel and the Adriatic.

Our Natural Resources team continues to provide Energean with wide-ranging communications support and strategic advice, as well as interim investor relations support. Previously a relatively little-known company, we have driven high profile UK and international coverage of the company as they successfully signed up a series of world class partners.

This has provided a strong platform for the company’s introduction to the London and international markets, as a leading international E&P company.