Southern Energy Corp (AIM:SOUC, TSX-V:SOU, FRA:0M11) has begun trading with a dual listing in London as the US-focussed gas-weighted producer seeks to broaden its investor base and profile.
The company said it gives an additional platform to advance its strategy to build value through the consolidation and development of assets in south-eastern United States.
Presently, it owns assets in Alabama and Mississippi – with average production of 12,922 Mcfe/d per day in the first quarter, generating US$1.3mln of cash from operations in the first quarter.
In a statement, chief executive Ian Atkinson described it as a key moment for the company.
"We are delighted to announce the successful completion of our admission to the AIM Market of the London Stock Exchange and by the support we have received as part of this process,” Atkinson said.
“With this admission, our intention is clear: facilitate further growth. Aligned to our shareholders, our management team are clear on how to achieve this and we look forward to deploying a strategy of using significant organic and inorganic growth opportunities, in our core area of expertise, from which we can build upon our existing production portfolio.”
The share trades in London under the ticker ‘SOUC’.