Middle East Economic Survey

VOL. LIV

No 7

14-Feb-2011

CASPIAN

Max Petroleum Raises $85Mn From Shares Sale To Fund Kazakh Exploration

Michael Young, CEO of UK-based independent Max Petroleum, told Dow Jones on 4 February that his company raised $85mn through an initial public offering (IPO) on 2 February, exceeding its capitalization target by $10mn. We had a very good response from the investor community, he said. We expected the fundraising to take up to two weeks but were able to close the...