December 16, 2012 / 2:40 PM / 7 years ago

UPDATE 1-Trafigura's Puma Energy says no immediate IPO plans

* Puma Energy says is well funded by existing shareholders

* Says IPO could be option in the future

* Sunday Times says firm working on plans for London listing

LONDON, Dec 16 (Reuters) - A flotation of commodity trader Trafigura’s Puma Energy subsidiary could be considered in the future but is not imminent, Puma Energy said on Sunday.

“Puma Energy is well funded by its existing shareholders and has no immediate needs to go to the public markets. As we have stated previously, an IPO could be one of various options at some point in the future,” Puma Energy said in an e-mailed statement.

The statement was issued in response to a report in The Sunday Times which said Puma was working on plans for a listing on the London Stock Exchange.

The newspaper quoted Pierre Eladari, Puma’s CEO, as saying the business could float in the new year with the proceeds used to fund Puma’s expansion drive.

The Sunday Times said Eladari did not comment on the potential size of the offering but cited bankers as saying the float could value the company, which is 65 percent owned by Trafigura, at 3 billion pounds ($4.8 billion).

It said Puma, which owns petrol stations, ports and refineries in 34 countries in the developing world, is yet to hire banks to handle the offering.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below