Linc Energy launches IPO; secures Genting Bhd unit as strategic investor
Company plans to raise about $47.9m in net proceeds
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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 public, at $1.20 apiece. These will make up about 8.4 per cent of the post-IPO total issued share capital of 571.15 million shares. The market cap on listing will be some $685 million.
The group yesterday also said that it had secured Genting Strategic Investments (Singapore) as a strategic investor.
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