Dubai-based Shelf Drilling, owned by Australia’s Champ Private Equity, has said it is preparing for listing on the London Stock Exchange by May, Reuters has reported. “We’re in the process of moving for a listing of that business on the London Stock Exchange hopefully in mid-May,” said Champ managing director. Nathaniel Childres. Shelf Drilling was formed 16 months ago by Champ to run $1bn worth of shallow water oil rigs. Childres did not give a reason for pursuing a listing in the UK instead of Australia and did not say how much Shelf hoped to raise via an initial public offer.
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