Lundin Petroleum has gained regulatory consents and approvals to complete the internal reorganization to spin-off its assets in Malaysia, France and the Netherlands into International Petroleum Corp. (IPC).
The reorganization was completed on 7 April 2017, and follows approval from shareholders on 22 March 2017.
Lundin Petroleum confirms that IPC has now received conditional approval for the listing of its shares on the Toronto Stock Exchange (TSX) and is intending to list on the Nasdaq First North stock exchange.
The distribution and first day of trading of IPC’s shares on the TSX and Nasdaq First North is expected to occur on 24 April 2017.
The board of directors of Lundin Petroleum has determined that the conditions for shareholder approval have been satisfied and that the record date for the distribution of the IPC shares will be 20 April 2017. Based on that record date, the shares of Lundin Petroleum will start trading without the right to the distribution of the IPC shares on 19 April 2017.