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Date: Friday 03 Oct 2008
LONDON (ShareCast) - San Leon Energy, which focuses on oil and gas projects in North America, Morocco and the Netherlands, started trading on AIM in a move that valued the group at £100m.
The oil and gas explorer did not raise any new money but said the listing will provide potential access to capital in the future.
“We are confident that there will be extremely positive news regarding new licences in the short to medium term,” said chairman Oisin Fanning.
“We have created a strong and valuable base that we will look to develop in tandem with acquiring and then developing new licences within our portfolio,” Fanning added.
Agua Terra, a developer and operator of leisure real estate projects in Greece and Cyprus, also started trading on AIM this week.
On admission, the company will have 4.53m common shares in issue and a market capitalisation of €9.01m.
“The supply of carefully designed and executed master-planned developments in Southeast Europe continues to be very limited. This is particularly true for the premium segment of the market where the region is emerging as a popular destination for affluent Russians and Middle Eastern buyers,” said chief executive Markos Kashiouris.
“With our first development in Mykonos and by utilising our strong in-house development expertise and the Sotheby's International Realty branding and global distribution network, we look forward to launching the company as the first AIM quoted developer for premium real estate in the region,” he added.