KUALA LUMPUR, Sept 7 Malaysian oil and gas
services provider KNM Group Bhd will list its German
industrial equipment unit on the Singapore stock exchange next
The unit, Borsig Beteiligungsverwaltungsgesellschaft mbH,
will have an indicative valuation of 1.8-1.9 billion ringgit
($579 million-$611 million) when it lists, KNM told the
Malaysian stock exchange late on Thursday. KNM bought Borsig in
2008 for approximately 1.7 billion ringgit.
KNM said it had appointed UOB Bank as the sole manager,
underwriter and placement agent for the planned listing.
The IPO comes as Singapore sees a pick up in listing
activity this year, with the dual listing of IHH Healthcare
in a $2.1 billion deal and Far East Hospitality Trust
, which raised $575 million in an IPO in August.
(Reporting by Niluksi Koswanage; Editing by Joseph Radford)