Top Oil analyst savages the biggest IPO of 2022 – Ithaca Energy
By Tom Winnifrith | Wednesday 9 November 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Ithaca Energy (ITH) has IPO’d today at 250p giving it a market cap of £2.5 billion making it the biggest London IPO of the year to date. Well done Goldman Sachs. There is a big push to get Joe Retail buying in the after market. But is that a smart move? Top analyst Ashley Kelty of Panmure Gordon thinks not and in an email, below, sent today has savaged the issue.
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