July 18, 2019 / 9:12 AM / 7 months ago

Aker Energy may launch IPO late 2019 or during 2020: Aker CEO

OSLO (Reuters) - Norway’s Aker (AKER.OL) expects a potential initial public offering (IPO) of its Aker Energy holding to be launched late in 2019 or in 2020, depending on when Ghanaian authorities approve the development plan of its Pecan field.

“My educated guess is a late-2019 or during the course of next year,” the Norwegian investment firm’s chief executive Oeyvind Eriksen told Reuters on Thursday.

Ghanaian authorities are still expected to approve its revised $4.4 billion development plan for the offshore Pecan oilfield by late third-quarter of 2019, but delays cannot be ruled out, Eriksen said.

Eriksen added he expects Aker Energy will be able to raise the capital it needs despite volatility on oil and gas-related market.

Reporting by Victoria Klesty, editing by Gwladys Fouche

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