Israel's Delek Drilling Considers London IPO for Leviathan Gas Stake

Delek Drilling said on Monday it was considering listing its holdings in the Leviathan natural gas field off Israel's Mediterranean coast on the London Stock Exchange as part of a corporate restructuring, the International New York Times reported on a Reuters story. Delek Drilling, a unit of conglomerate Israel's Delek Group, said it would retain its holdings in the Tamar and Dalit gas sites, also off Israel's coast, under the plan being considered. But it said other assets, including its stakes in the Leviathan and Aphrodite reservoirs, would be transferred to a new corporation to be listed in London, it said. "The move will realise our vision of becoming a significant global oil and gas company," CEO Yossi Abu said. He said the move would "unlock value for investors and increase the value of the assets, while providing optimal access to equity and debt and enabling development of additional commercial channels in the region." Read more