Greece's Energean lists in London, raises $460 mln for Israeli gas project

Greece's Energean Oil & Gas listed on the London Stock Exchange on Friday, raising $460 million to develop two Israeli offshore gas fields in the latest milestone for the rapidly expanding eastern Mediterranean energy sector.

The firm offered 72.6 million new shares at 4.55 pounds ($6.35) apiece in the first flotation of an oil and gas producer on London's main market since Zenith Energy in January 2017, according to London Stock Exchange data.

Energean shares were trading flat at 1213 GMT.

The company will receive around 330 million pounds ($460 million) from the listing, which gave Energean a market capitalisation of around $968 million, the company said in a statement.

The funds, together with a credit facility signed earlier this month, will go towards the $1.6 billion development of its Israeli offshore gas fields Karish and Tanin, which have...

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