Ithaca Energy IPO to value company up to $3.6 billion -bookrunners

LONDON (Reuters) - Ithaca Energy's London listing next week will be priced at 250 to 310 pence, giving the North Sea oil and gas producer an implied market value of 2.5 billion to 3.1 billion pounds ($2.87 billion to $3.56 billion), bookrunners for the deal said on Wednesday.

Ithaca, which produced about 66,700 barrels of oilequivalent per day (boed) in the first half of the year, expects to be eligible for inclusion in the FTSE UK indices.

The listing by the company, owned by Tel Aviv-listed Delek Group, comes amid a sharp decline in equity capitalmarket deals this year.

There is renewed interest in the North Sea region due to the energy crisis, with Britain recently launching its first oil and gas exploration licensing round since 2019 in an effort to boost domestic production.

The bookrunners said the listing is expected to have a free float of at least 10%, with the first day of trading on November 9.

($1 = 0.8702 pounds)

(Reporting by Huw Jones; editing by Jason Neely)