Mar 26 2012
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No Topaz IPO in 2012, says Renaissance
Originally planned to be launched on the London Stock Exchange as Topaz Listco, shareholders approved a plan to raise US$500mn for Topaz Energy at last year's annual general meeting. However, a combination of the Arab Spring, the eurozone crisis and other market fluctuations caused Renaissance to pull the plug on the IPO.
In his annual report to shareholders, Renaissance chairman Samir Fancy said that while a public listing 'may offer the most effective way to optimise future growth opportunities,' it will not happen this year.
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