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Universal Terminal delays IPO plans: report

Market watchers point to the plunge in crude prices, and say caution now rules where oil businesses are concerned

Published Thu, Dec 4, 2014 · 09:50 PM

Singapore

UNIVERSAL Terminal, the largest independent petroleum storage terminal in Singapore, has postponed its initial public offering (IPO) till February 2015, IFR has reported.

Its IPO, expected to be the largest one on the Singapore Exchange (SGX) since April 2013 and which was to have raised up to S$1 billion by this year-end, was likely the victim of the current bearish market sentiments on oil-related assets, given the plunge in crude oil prices.

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