Strathcona intends to go public around October: CEO
BNN Bloomberg
As Strathcona Resources Ltd. announced a new acquisition, accompanied by a venture to go public, the company’s top executive said the plan is for the stock to be available to public investors around October.
Adam Waterous, the chief executive officer and managing partner at Waterous Energy Fund, said in an interview with BNN Bloomberg Tuesday that the plan is for shareholders to vote on the transaction in the fall, followed by a public listing of the stock.
“The plan right now is for Pipestone shareholders to vote on this transaction in late September, and we would then complete the transaction in early October and that's when the stock would start trading,” Waterous said.
On Tuesday, Strathcona announced a deal to purchase Pipestone Energy Corp. in an $8.6-billion transaction and to go public. Strathcona said that the acquisition will result in the new company becoming the fifth largest oil producer across Canada.
