KrisEnergy prices IPO at the top amid strong demand

The upstream oil and gas company will raise $213 million ahead of its Singapore listing later this week.
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KrisEnergy focuses on upstream oil and gas assets but is yet to turn a bottom-line profit
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<div style="text-align: left;"> KrisEnergy focuses on upstream oil and gas assets but is yet to turn a bottom-line profit </div>

Southeast Asia-focused oil and gas exploration and production company KrisEnergy will raise S$270.8 million $213 million from its Singapore initial public offering after fixing the price at the top of the range.

According to a source, the IPO attracted more than institutional 100 investors, including a number of accounts that submitted their orders in the final 24 hours when it was becoming clear that this was a “hot” deal. The allocations favoured investors who had shown interest in the company during the pre-marketing and roadshow, however, and the source said quite a few accounts received no shares at all.

There was also a lot of demand...

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