Trafigura plans London float of Puma Energy unit - paper

LONDON Sun Dec 16, 2012 6:45pm IST

Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

LONDON Dec 16 (Reuters) - Commodity trader Trafigura is working on plans for a listing on the London Stock Exchange of its Puma Energy subsidiary, The Sunday Times reported, citing Puma's chief executive.

The newspaper quoted Pierre Eladari, Puma's CEO, as saying the business could float in the new year with the proceeds used to fund Puma's expansion drive.

The Sunday Times said Eladari did not comment on the potential size of the offering but cited bankers as saying the float could value the company, which is 65 percent owned by Trafigura, at 3 billion pounds ($4.8 billion).

It said Puma, which owns petrol stations, ports and refineries in 34 countries in the developing world, is yet to hire banks to handle the offering.

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