Keppel ups support for KrisEnergy on eve of IPO launch

Upstream oil and gas company KrisEnergy will open the order books for a Singapore IPO of up to $215 million after Keppel increases its stake and agrees to participate in the $80 million cornerstone tranche.
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KrisEnergy headquarters at Shell House in Singapore
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<div style="text-align: left;"> KrisEnergy headquarters at Shell House in Singapore </div>

Oil and gas exploration and production company KrisEnergy will kick off the management roadshow today for a Singapore initial public offering of up to S$270.8 million $215 million.

The deal comes after regional markets showed signs of stabilising last week following five weeks of pretty relentless selling. The Singapore market fell another 0.3% yesterday and is still down 0.8% year-to-date, but the slight recovery last week may have helped convince the issuer to go ahead.

The company has also secured the support of Keppel Corp, one of Singapore’s top bluechips, ahead of the IPO, which ought to make other potential investors more comfortable about...

¬ Haymarket Media Limited. All rights reserved.

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