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A Canadian Natural Resources pump jack pumps oil out of the ground near Dorothy, Alberta, June 30, 2009.
A Canadian Natural Resources pump jack pumps oil out of the ground near Dorothy, Alberta, June 30, 2009.
(Todd Korol/Reuters)

Gear Energy shares pop as grey market investors anticipate IPO

Shares of Gear Energy Ltd. are soaring in anticipation of a planned public listing for the Calgary company.

Gear plans to go public by the end of the year, either through an initial public offering or a reverse takeover. Gear is run by a well-known Calgary management team, with backers that have made people rich before. And in the weeks since Gear said it was looking to become publicly traded, the shares have been surging as investors get ready.