Pearl produces a gem of an IPO

The first pure play independent Southeast Asian regional oil and gas exploration and production company gets listed in Singapore.

After months of close scrutiny by the MAS and SGX, the institutional portion of the 110.9 million share offering for Singapore Pearl Energy priced on Monday in the top half of its range. The 25% block of new shares was sold at S$0.70, against an indicative pricing range of S0.60 - S$0.75.

The deal gives the company a market cap of S$311 million $188 million and an IPO size of S$77.6 million $46.9 million....

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