Dart International to list on AIM
Thursday, September 20 2012 - 03:49 AM WIB
Dart Energy Limited (DTE) has announced wholly owned subsidiary that handles its international operation, Dart Energy International Pte Limited (Dart International), plans to list its shares on the AIM Market of the London Stock Exchange.
"The proposed listing on AIM of Dart International is about unlocking the value of DTE?s international assets. A separate listing of the international assets will ensure Dart International is fully funded through the next phase of development,? said Nick Davies, Chairman of DTE, in a statement.
?A separately listed international vehicle will also mean the DTE Australian management team can focus its attention on the Australian business, which we believe has exciting prospects,?he said.
The proposed listing process is expected to be completed in November. After the listing, DTE will remain a majority shareholder of Dart International.
In Indonesia, Dart Energy is focusing its activities in the South Sumatra and eastern Kalimantan regions where highly prospective areas for coal bed methane have been identified. Indonesia is a country rich in CBM resources, estimated at over 450 Tcf.
Editing by Dadan Wijaksana