Oman's Renaissance Services has revived plans to list its oilfield services business Topaz, more than three years after pulling a share sale in London, sources said on Thursday. Dubai-based Topaz Energy and Marine, one of the biggest oil services companies in the Middle East, dropped its $500 million London listing plans in March 2011, citing market volatility as the reason.
The sources said Renaissance was now looking to push ahead with listing Topaz again having restructured the business.
"Topaz is doing well now ... they are looking at the London listing again. The management feels this may be the right time to get back into it," said one company source. Banks were approached earlier this year with renewed plans for the London listing and lawyers were also consulted, the sources said.
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