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Zhaikmunai wants FTSE listing

A Douglas-based company which produces oil and gas in Kazakhstan says it's hoping for a London stock exchange listing which would put it into the FTSE 250.

Zhaikmunai's global depository receipts have been trading in London for the last three years, and the company has brought in a law firm to advise it on a possible switch to a full London listing.

The company, which has its registered offices in Lord Street, Douglas already meets the free float requirement for entry to the FTSE indices, but would need to increase the number of its independent directors.

Zhaikmunai has 30 active wells and has doubled its production over the last three years.

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