LONDON, Sept 24 (Reuters) - Energy focused private equityfirm Riverstone said it would list a new energy vehicle,Riverstone Energy Limited (REL), on the main market of theLondon Stock Exchange in a move which will raise up to 550million pounds ($882 million).
The new company, whose shares are expected to start tradingon Oct. 29, will invest across the global energy industry,focusing on exploration and production, an intention to floatannouncement said on Tuesday.
It has received binding commitments from five cornerstoneinvestors and Riverstone, where former BP chief executiveJohn Browne is a partner, to invest up to 550 million pounds inthe issue.
"REL presents a unique opportunity for public marketinvestors to gain exposure to the energy sector via Riverstone's highly experienced team," REL's chairman RobertWilson said in a statement.
Riverstone has featured in the British press in recentmonths as it is a part-owner of Cuadrilla, a company whoseexploration for shale gas in the country has been the subject ofprotests.
BP (BP.)