North Sea firm Orcadian Energy aims to raise £5m via London IPO

North Sea firm Orcadian Energy aims to raise £5m via London IPO

North Sea oil firm Orcadian Energy intends to launch an initial public offering (IPO) in London.

Chief executive Steve Brown said Orcadian, the new name for Pharis Energy, would look to list on the alternative investment market (AIM) at the end of this month.

Mr Brown said Orcadian met the criteria after the Sproule consultancy finalised a competent person's report (CPR) for the company.