Energy-related stocks aren’t just about selling oil and gas – you have to find the stuff in the first place. For investors looking for exposure to the Russian market, IG Seismic Services this week listed global depostitary receipts on the London Stock Exchange. However, it’s also a matter of finding the right price – and someone to trade with.
On launch, things were a little quiet, to say the least – there was no trading on Wednesday. The first trade was on Thursday afternoon for 100 GDRs at $20 – giving the company a guideline market cap of $208m. This is a company with over half the Russian surveying market. So why the lack of investor action?