PE Group Plots Paraguay E&P Listing

After combining three of its Paraguayan E&P units into a single entity, private equity firm Dahava Group plans to raise as much as $300m through listings on the Asuncion and London stock exchanges, it says. The firm’s local Dahava Petroleos vehicle holds the Aurora Petroleos, Boreal Petroleos and CDS Energy units, which it has bought over the last two years, spending more than $100m, according to a company official. After proving the units’ reserves, it now plans to raise up to $100m on the Paraguayan bolsa, hiring Valores to manage, and up to $200m on London’s AIM market, via Strand Hanson. The group says the oil assets should help make Paraguay energy independent. Dahava also owns two diamond mines and a black jade operation, as well as oil and gas concessions in Southern Africa.