Ezra hires bankers for potential US listing of subsea services division

Offshore services provider Ezra Holdings said early Friday that it has appointed J.P. Morgan (S.E.A.) to work with its subsea services division, Emas AMC.

One potential option is to list Emas AMC in the United States, said Ezra in a statement.

The overall aim is to "optimise the international profile and competitive position" Emas AMC, said Ezra.

"The review is intended to unlock value for shareholders and to enhance access to capital," said the statement.

Ezra chief executive and managing director Lionel Lee said that it is timely for his company to review its strategic plans for Emas AMC as it develops its next phase of growth.

"The fundamentals of the subsea industry are positive resulting in strong prospects for our subsea business in areas such as North America and Europe," he noted.

Ezra's shares were down 2.5 cents or 1.9 per cent to $1.26 at slightly past 10.30am.

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