Linc Energy launches IPO; secures Genting Bhd unit as strategic investor

UPSTREAM oil and gas firm Linc Energy, which is moving its listing from the Australian Securities Exchange (ASX) to Singapore Exchange, plans to raise about $47.9 million in net proceeds through a mainboard initial public offering (IPO) of 47.85 million shares, with an over-allotment option of four million shares.

Some 47.35 million shares will be placed out to international investors, including institutional investors, while 500,000 shares will be offered to the…