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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Shell Plc | LSE:RDSB | London | Ordinary Share | GB00B03MM408 | 'B' ORD EUR0.07 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,894.60 | 1,900.40 | 1,901.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
By Ben Dummett
LONDON--Vivo Energy Investments B.V., a major licensee of Royal Dutch Shell PLC fuels and lubricants in Africa, is eyeing an initial public offering over the coming months that could value the company at more than $3 billion, according to people familiar with the matter.
The planned offering represents a bet that Africa's improving economic growth prospects, combined with a rebound in commodity prices and a growing middle class in parts of the continent, will help drive retail and consumer fuel demand.
Based in the Netherlands, Vivo distributes and markets Shell-branded products across 16 African countries. The continent's economy is expected to generate real economic growth of 3.7% in 2018, according to estimates from the International Monetary Fund.
Vivo is working with a group of global investment banks as underwriters for the offering and is looking at the London Stock Exchange for a listing, according to some of the people familiar with the matter.
Details about the issue's potential size couldn't be learned, but it would likely value the entire company at more than $3 billion, according to people familiar with the effort.
Sarah Kent contributed to this article.
Write to Ben Dummett at ben.dummett@wsj.com
(END) Dow Jones Newswires
October 18, 2017 09:29 ET (13:29 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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