Eike Batista announces OGX listing in London as part of the internationalization plan of his companies

After the launch of its New York office as part of a plan of internationalization, EBX announces the listing in London of OGX, the oil company of the group.

OGX exploration staff meeting. Picture:Revista Exame

Eike Batista, chairman of the group said to Jornal Valor that OGX is only the beginning of the process. “Let’s start with OGX, but let’s do this with all other companies. I believe that companies should be independent. Investors like to buy stocks diversified, “he said.

The announcement aimed ending speculation that the EBX capital will open to foreign investors and thereby divert attention from domestic work. The IPO in London aims to continue the process of internationalization of the company.

Batista also said that the listing means to attract investors, who avoid operating in Brazil on account of the bureaucratic burden.

About OGX

Created in 2007, OGX focus is to explore the Brazilian sedimentary basins with concessions blocks acquired on the Ninth Bidding Round held by ANP in the shallow and deepwater offshore basins. The company IPO in 2008 set a record at BOVESPA by reaching 6,7 billion reais.

Published by Hildete Vodopives

Hildete de Moraes Vodopives is founder of Brazil Global and of the Harvard Strategists Group. She has a PhD in Economic History and advises companies and investment agencies in international business development.She served as Corporate Relations Director and later, on the board of the Brazilian Investment Analysts Association (APIMEC).

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