Financial Times: Dart targets £30m in assets spin-off

Dart Energy, the Australian coal-seam gas producer, has revived plans to spin off its international assets and raise a minimum of £30m after scrapping a proposed flotation in Singapore earlier this year.

The company has switched the location of its flotation to London where it plans to attract investors into buying a minority interest in its ventures held outside Australia through an admission to Aim in November.

The Sydney-listed company originally announced plans for the spin-out of its overseas interests in August last year, a year after Dart itself listed in Australia. As well as its core interests in New South Wales, the business also owns assets in China, India, Indonesia and Vietnam as well as the UK and continental Europe.  MORE