Essar Energy to join FTSE 100 index
Friday, 11 June 2010
LONDON, June 10 (PTI): Essar Energy Plc, the India-focused integrated energy company, has been included in the FTSE 100 index of leading shares listed on the Main Market of the London Stock Exchange.
The inclusion follows quarterly review of the FTSE's UK Index Series, the company said in a statement.
"This will be effective following the close of the market Friday June 18, 2010, with trading commencing Monday June 21," it said.
Essar Energy raised 1,273 million pounds ($1.94 billion) in April through an initial public offering (IPO), the largest primary listing in London since December 2007.
The company is "investing the proceeds of the IPO in its significant pipeline of growth projects in India, including to increase its power generation capacity from 1,220 MW to 11,470 MW and to increase the throughput capacity of its flagship Vadinar oil refinery (in Gujarat) from 14 million tonnes to 18 million tonnes."
The inclusion follows quarterly review of the FTSE's UK Index Series, the company said in a statement.
"This will be effective following the close of the market Friday June 18, 2010, with trading commencing Monday June 21," it said.
Essar Energy raised 1,273 million pounds ($1.94 billion) in April through an initial public offering (IPO), the largest primary listing in London since December 2007.
The company is "investing the proceeds of the IPO in its significant pipeline of growth projects in India, including to increase its power generation capacity from 1,220 MW to 11,470 MW and to increase the throughput capacity of its flagship Vadinar oil refinery (in Gujarat) from 14 million tonnes to 18 million tonnes."