Dubai rig contractor reportedly cancels London IPO

Dubai: Oil-rig contractor Shelf Drilling is cancelling its plan to list on the London Stock Exchange because of insufficient interest, Britain's City A.M. reported. Shelf Drilling had been looking to raise $500m from the IPO.

The Dubai-based offshore oil rig operator is likely to issue a statement on the status of the IPO shortly.  [02/07/14]

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