North Sea -focused oil firm Hurricane Energy yesterday announced plans to float on London's junior AIM market in February, in an initial public offering (IPO) which will value the company at around £272m. The firm said it would raise around £18m from investors upon listing plus another £31.4m through the conversion of loan notes and a warrant at the time of the float. Hurricane, said it planned to use the funds to drill a well to appraise its Lancaster oil discovery.
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