SAO PAULO (Dow Jones)--Karoon Petroleo e Gas S.A, the Brazilian unit of Karoon Gas Australia Ltd. (KAR.AU), changed the timetable of its initial public offering on the Brazilian Stock Exchange, the BMFBovespa, the company said Wednesday.
The company said in a statement it will debut its shares in Brazil on Nov. 24. Previously the company was expecting the shares to list on Nov. 12.
The period for investors to reserve shares will end on Nov. 18. The company did not reveal the reason it changed the timetable.
The Melbourne-based company plans to offer 1.03 million common shares. The price for each share is expected to be in a range of BRL1,025 ($602) to BRL1,275, with final pricing expected Nov. 18.
The IPO proceeds will be used to explore seven prospects in Brazil and five in Peru.
-By Rogerio Jelmayer, Dow Jones Newswires
brazil float delayed until nov 24?, page-5
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$1.84 |
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Mkt cap ! $1.452B | |||
| Open | High | Low | Value | Volume |
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| 27 | 19264 | $1.84 |
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| Price($) | Vol. | No. |
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