Singapore's Ezra considers US IPO for subsea services unit

SINGAPORE Thu Jan 16, 2014 7:57pm EST

SINGAPORE Jan 17 (Reuters) - Ezra Holdings Ltd said on Friday it has appointed JP Morgan Chase & Co to advise on strategic options for its subsea services division including a possible listing of the business in the United States.

The Singapore-listed offshore oilfield service firm said it remained committed to the business and the strategic review was aimed at unlocking value for shareholders and enhancing access to capital.

"The fundamentals of the subsea industry are positive resulting in strong prospects for our subsea business in areas such as North America and Europe," group chief executive Lionel Lee said in a statement.

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