Petrofac to suspend share trading amid restructuring efforts

Petrofac has announced that trading of its shares will be temporarily suspended from 1 May 2025, following the company’s decision to defer the publication of its audited annual results for 2024 as it moves forward with a planned restructuring.

In line with its listing rules, the suspension will remain in effect until the company publishes its full-year results for 2024.

In a stock market update, Petrofac indicated that the restructuring process is expected to take effect after 30 April 2025, with the results being released shortly thereafter.

This update follows a recent court hearing where Petrofac’s financial restructuring plan was discussed, with the court approving the creditor class composition proposed in the plan and ordering the convening of creditor meetings.

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