July 25, 2014 / 1:01 AM / in 3 years

Samudra Energy looks to raise up to $223 mln in Singapore IPO-term sheet

July 25 (Reuters) - Samudra Energy Ltd, is seeking to raise S$248 million to S$276.3 million ($223 million) in an initial public offering in Singapore, according to a term sheet seen by Reuters.

The company is selling about 131 million shares, excluding the greenshoe option, at an indicative price range of S$1.89 to S$2.11 a share, the term sheet said.

Samudra Energy is part of private equity firm Northstar Group, which focuses on Indonesia and Southeast Asia.

$1 = 1.2400 Singapore Dollars Reporting by Ngui Yantoultra and Saeed Azhar; Editing by Stephen Coates

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