Wood Group plans pounds 1bn flotation.(Business)

From: Daily Post (Liverpool, England) | Date: April 23, 2002 | Copyright information

OIL and gas services provider Wood Group is planning to join the London Stock Exchange in a pounds 1bn flotation, it emerged yesterday.

The Aberdeen-based company is selling a 25pc stake to institutional investors and hopes to take its place in the City by early June.

The move should net 59-year-old chairman and chief executive Sir Ian Wood and his family pounds 50m.

Sir Ian and his two sisters are trimming their 65pc shareholding but will own aroun...

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