Gulf Keystone Petroleum Ltd (LSE:GKP) said it is planning to pursue a dual listing of its shares on Euronext Growth Oslo, alongside its existing London Stock Exchange listing, as part of a strategy to enhance trading liquidity, widen its investor base and improve long-term access to capital. The move is also intended to support a future uplisting to the Oslo Stock Exchange’s Main Market.
To meet the requirements for admission in Oslo, the company will launch a fully underwritten retail private placement of new shares, with a total value of up to the Norwegian krone equivalent of €1 million. The shares will be offered to retail investors in Norway and Sweden at a price set at a 10% discount to the London volume-weighted average price. Gulf Keystone said one of its major shareholders has agreed to underwrite the offering and plans to transfer a significant portion of its existing shareholding to the Norwegian market, highlighting strong backing for the dual listing strategy.
Overall, Gulf Keystone’s outlook continues to reflect a solid financial position and supportive corporate developments, balanced against valuation considerations and ongoing operational and geopolitical risks. The company’s ability to maintain cash flow generation and manage regional uncertainties in the Kurdistan Region of Iraq will remain key factors influencing future performance.
More about Gulf Keystone Petroleum Ltd
Gulf Keystone Petroleum Ltd is a London-listed independent oil and gas operator focused on exploration, development and production activities in the Kurdistan Region of Iraq. The company targets both institutional and retail investors across international capital markets.
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