Middle East Economic Survey

VOL. XLVIII

No 16

18-April-2005

KUWAIT

GlobalSantaFe Announces Public Share Offering To Allow Repurchase Of KPC Shares

Drilling contractor GlobalSantaFe announced on 12 April it planned to issue some $1.2bn of its ordinary shares to the public with proceeds to be used to purchase an equivalent number of the GlobalSantaFe shares held by Kuwait Petroleum Corporation (KPC). The shares purchased from KPC will be retired and there will be no increase in the total number of...