Singapore-based independent KrisEnergy has launched an initial
public offering of its shares aiming to raise S$270 million ($213.6
million) funding for capital expenditure and potential acquisitions.
Around 151.9 million shares are being offered to international and Singapore subscribers at S$1.10 per share.
In addition, around 94.1 million new shares have been offered to KrisEnergy’s six cornerstone investors, including Keppel Corporation subsidiary Devan International and Palang Sophon Offshore.
The offer runs from 1300 GMT on 12 July to 0400 GMT on 17 July, with the shares expected to begin trading on the SGX on 19 July.
KrisEnergy chief executive Keith Cameron said the IPO’s injection of new capital “will allow us to continue pursuing our focused strategy of discovering hidden value in significant assets to bring oil & gas to market”.
Established in 2009, the South-East Asia-focused explorer holds production assets in Indonesia and Thailand that yielded 2497 net barrels of oil equivalent per day in the first quarter.
It holds 14 exploration and production assets in all in Thailand, Indonesia, Cambodia and Vietnam, along with a pending acquisition of Tullow Oil’s 30% stake in Niko Resources-led Block 9 in Bangladesh.
KrisEnergy's certified proven plus probable working interest reserves ran to 17.16 million boe at the end of 2012.
In addition, around 94.1 million new shares have been offered to KrisEnergy’s six cornerstone investors, including Keppel Corporation subsidiary Devan International and Palang Sophon Offshore.
The offer runs from 1300 GMT on 12 July to 0400 GMT on 17 July, with the shares expected to begin trading on the SGX on 19 July.
KrisEnergy chief executive Keith Cameron said the IPO’s injection of new capital “will allow us to continue pursuing our focused strategy of discovering hidden value in significant assets to bring oil & gas to market”.
Established in 2009, the South-East Asia-focused explorer holds production assets in Indonesia and Thailand that yielded 2497 net barrels of oil equivalent per day in the first quarter.
It holds 14 exploration and production assets in all in Thailand, Indonesia, Cambodia and Vietnam, along with a pending acquisition of Tullow Oil’s 30% stake in Niko Resources-led Block 9 in Bangladesh.
KrisEnergy's certified proven plus probable working interest reserves ran to 17.16 million boe at the end of 2012.
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