CAPITAL Markets will today be named as a joint broker to Ophir Energy, the FTSE 250 company part backed by the steel tycoon Lakshmi Mittal.
Ophir has decided to bring in RBC, which has a large balance sheet and growing expertise in the energy and resources sector, at the expense of Credit Suisse, which was one of the banks that advised on Ophir’s recent stock market flotation.
Ophir Energy, which is in the process of acquiring Dominion Petroleum, will have three brokers going forward. Oriel and JP Morgan will work alongside RBC.
RBC has been growing its UK corporate broking presence at an impressive rate.
Recent wins include African Barrick Gold, Centamin Egypt, Ithaca Energy, First Quantum Minerals and President Petroleum, the oil exploration group run by Peter Levine, formerly of Imperial Energy.