Samudra Energy tapping investors for Singapore IPO of up to $250 mln-IFR
SINGAPORE, July 9
SINGAPORE, July 9 (Reuters) - Samudra Energy, which owns oil and gas exploration interests in Indonesia, is seeking to raise $200 million to $250 million in an initial public offering (IPO) in Singapore, IFR reported on Wednesday.
The company has begun "pre-marketing" - tapping potential investors - which will continue for two weeks, while book-building for the deal is expected to start in late July or early August, IFR said.
Samudra Energy is part of private equity firm Northstar Group, which focuses on Indonesia and Southeast Asia.
The company could not be immediately reached for comment, while an external spokesman for Northstar declined to comment.
Credit Suisse and Nomura are the joint global co-ordinators and bookrunners with CIMB, IFR reported.
The listing plan comes after Singapore's IPO market saw its slowest start to a year since the first half of 2012.
Just six companies were listed from January until June 20, fewer than Thailand and Bangladesh which have had nine each, and far behind Hong Kong which has had 30, according to Thomson Reuters data. (Reporting by S. Anuradha of IFR; additional reporting by Saeed Azhar; Editing by Mark Potter)