Serica Energy (LSE:SQZ) has announced its intention to transfer the admission of its shares from AIM to the Main Market of the London Stock Exchange, with the move expected to be completed by the end of October 2026.
The UK-focused oil and gas producer plans to complete the transfer through an introduction of its existing ordinary shares. No new capital will be raised as part of the process.
Admission to the Main Market remains subject to the required regulatory approvals, and Serica’s AIM admission will be cancelled as part of the transition.
Serica Targets Broader Investor Base
Management said the proposed move reflects changes in the scale and development of the company and is intended to provide access to a broader investor base.
Serica also expects a Main Market listing to increase the company’s visibility and potentially improve liquidity in its shares. These remain company expectations rather than established outcomes.
The group said it intends to continue funding its growth plans from free cash flow generated by its existing operations, alongside its strategy of organic investment and mergers and acquisitions.
Spirit Energy Acquisition Set to Expand Portfolio
The planned listing change comes as Serica works towards completing its acquisition of additional operated and non-operated assets from Spirit Energy.
The assets include interests in the Cygnus, Clipper South and Greater Markham Area fields.
Serica said completion of the acquisition would make it the sixth-largest producer on the UK Continental Shelf, with production split between oil and gas.
Serica Maintains UK North Sea Focus
The company’s existing portfolio includes the Bruce, Keith and Rhum fields in the Northern North Sea and assets connected to the Triton FPSO in the Central North Sea.
Serica also holds a 40% operated interest in the Greater Laggan Area west of Shetland.
According to the company, its operations account for approximately 10% of UK gas production. Serica also said it has invested more than £1 billion in the UK supply chain since 2020.
About Serica Energy
Serica Energy is a British independent upstream oil and gas exploration and production company focused on the UK Continental Shelf.
Its strategy combines production from existing assets with organic investment and mergers and acquisitions. The company’s shares currently trade on AIM under the ticker SQZ, ahead of the proposed move to the London Stock Exchange’s Main Market.
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