SYDNEY (Dow Jones)--Karoon Gas Australia Ltd. (KAR.AU) said Tuesday that it expects to launch an initial public offering of its South American assets by the end of the month.
Karoon wants to list its Brazilian and Peruvian assets on the Brazilian stock exchange and said on Sept. 9 that it had lodged a draft prospectus with the Brazilian securities regulator.
The regulator and Karoon have been working on the prospectus and a final prospectus is expected to be lodged with the regulator within the next two days, a Karoon spokesman told Dow Jones Newswires.
"The full IPO is expected to be launched and open for subscriptions before the end of the month," the spokesman said, adding that the company expects to commence pre-IPO marketing immediately after lodging its final prospectus with the regulator to assist in determining final pricing.
Karoon said last month that it expects to retain an ownership interest in Karoon Brazil of about 70%-75%.
ipo, page-3
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