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Mytrah Energy Ltd Announces Proposed Business Trust Listing On The Singapore Exchange


Thursday, 4 Apr 2013 02:00am EDT 

Mytrah Energy Ltd announced that it is evaluating a potential initial public offering and listing (Proposed Listing) of its wind-power assets as a business trust (Business Trust) on the Singapore Exchange Securities Trading Limited (SGX-ST). Mytrah Energy is working with financial, legal and other advisors in evaluating the feasibility, optimal structure and timing for the Proposed Listing. The Business Trust would acquire assets from Mytrah Energy as part of the Proposed Listing. The portfolio to be acquired by the Business Trust is being evaluated and it is currently envisaged that Mytrah Energy would maintain a significant ownership stake in the Business Trust. The Company's admission to trading on AIM would be unaffected. Should the Proposed Listing proceed and be completed as planned, the proceeds raised are expected to be used to pay down all or a substantial part of the senior and mezzanine debt of the Company's subsidiary companies in India and to enable the continued rollout of the Company's pipeline, with the target of developing, in aggregate, 1,500 MW of operational assets during 2015. 

Company Quote

77.0
-1.75 -2.27%
19 Dec 2014