ECM Awaits Jumbo Oil IPO

ECM Awaits Jumbo Oil IPO

Equity

All equity market eyes are on OGX, the oil and gas startup led by Brazilian billionaire Eike Batista. The IPO will grow from an originally targeted $2.0bn to $3.0bn-$3.5bn, say people familiar with the deal, and oil markets remain supportive. As the company awaits the green light from the CVM, investors are getting ready to pounce. “With oil at $129.00 this is an extremely interesting deal,” says a New York hedge fund investor, speaking before crude spiked above $130. “At that price [per barrel]

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