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Tuesday, 16 July 2013

KrisEnergy IPO sees hot demand internationally

Placement close to 6 times oversubscribed by institutional investors
 
DESPITE being priced at the top of its range, independent oil and gas company KrisEnergy is shaping out to be a hot offering.

Its international placement of 132.1 million shares is close to six times oversubscribed by institutional investors, said director of business development Richard Lorentz at a media briefing yesterday after he returned from a nine-day roadshow around the world.

Mr Lorentz, a geologist with more than 30 years of industry experience, is one of the three founders of former Singapore Exchange (SGX) listed Pearl Energy that are now behind KrisEnergy.

Pearl Energy had debuted at 70 cents a share in 2005 and was taken private not long after.

KrisEnergy currently owns oil and gas assets in Cambodia, Thailand, Vietnam and Indonesia.



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