Company News 

ContourGlobal IPO offers income potential

ContourGlobal IPO offers income potential

UK income seekers may want to take a look at ContourGlobal (GLO), which was one of the largest companies to float on London’s main market so far this year when it made its debut on 9 November. The US-based power generator raised net proceeds of £281m via an institutional offering, giving it a market capitalisation of £1.68bn, or 250p a share. Part of this has been used to pay down debt, with the remainder retained to fund future growth. ContourGlobal’s parent has reduced its holding to 73 per cent in the process. The shares began unconditional trading on 14 November. 

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now