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IG Seismic to List on LSE

IG Seismic Services, Russia's largest seismic company and one of the biggest in the world, was expected on Wednesday to apply to list its shares on the London Stock Exchange, the Financial Times reported.

The listing will give foreigners an opportunity to invest in a company supplying the growing demand for seismic surveys from Russian oil and gas companies.

As a result of the listing, the company's free float will amount to 48 percent.

IG Seismic Services has over 50 percent of the country's $1.4 billion seismic services market. The company is a joint venture between U.S.-based Schlumberger, Russian oilfield services provider Integra and the owners of oilfield services company Geotech.

(MT)

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