Abu Dhabi's Mubadala plans biggest oil IPO in 10 years

17/09/2018 Argaam

 

Abu Dhabi’s Mubadala Investment Co. on Monday said it plans to float a 25 percent stake in Spanish energy company Cepsa on the Spanish stock exchange in the fourth quarter of 2018.

 

The listing will provide Cepsa with wider access to capital markets and increase its financial flexibility, it said in a statement.

 

Cepsa could raise about $3.5 billion, Bloomberg reported, citing unnamed sources, making it the biggest oil IPO in about 10 years.

 

Citigroup Inc., Bank of America Merrill Lynch, Banco Santander SA and Morgan Stanley are joint global coordinators and bookrunners, according to the statement.

 

Barclays Plc, BNP Paribas SA, First Abu Dhabi Bank PJSC, Societe Generale SA and UBS Group AG are additional bookrunners.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.