LONDON, Sept 24 Energy focused private equity
firm Riverstone said it would list a new energy vehicle,
Riverstone Energy Limited (REL), on the main market of the
London Stock Exchange in a move which will raise up to 550
million pounds ($882 million).
The new company, whose shares are expected to start trading
on Oct. 29, will invest across the global energy industry,
focusing on exploration and production, an intention to float
announcement said on Tuesday.
It has received binding commitments from five cornerstone
investors and Riverstone, where former BP chief executive
John Browne is a partner, to invest up to 550 million pounds in
"REL presents a unique opportunity for public market
investors to gain exposure to the energy sector via
Riverstone's highly experienced team," REL's chairman Robert
Wilson said in a statement.
Riverstone has featured in the British press in recent
months as it is a part-owner of Cuadrilla, a company whose
exploration for shale gas in the country has been the subject of