(Alliance News) - Diversified Gas & Oil PLC on Friday said its move to the Main Market of the London Stock Exchange will be completed in May.
It was back in September that the oil and gas company said it was looking to move to the Main Market from AIM.
Diversified Gas added on Friday: "The board believes that the Main Market is the more appropriate trading platform for the continued growth of the company and its subsidiaries and, together with a premium listing, will benefit shareholders in many ways."
Diversified Gas noted the "greater number of institutional investors" who trade on Main Market-listed companies. The firm also noted a potential inclusion into the FTSE indices.
The company's move to the Main Market is scheduled for May 18.
Shares in the company closed 10% higher at 87.70 pence each in London on Friday.
By Eric Cunha; ericcunha@alliancenews.com
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