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Samudra Energy looks to raise up to $276m in Singapore IPO

Published on Jul 25, 2014 9:27 AM

(Reuters) - Samudra Energy, which owns gas and oil interests in Indonesia, is seeking to raise $248 million to $276.3 million in an initial public offering in Singapore, according to a term sheet seen by Reuters.

The deal is a sign of some revival in Singapore's IPO market, which in January-June saw the slowest start to a year in terms of amounts raised since the first half of 2012.

On Thursday, Accordia Golf Trust, backed by golf courses in Japan, said it would raise about $612 million in a stock market listing in Singapore after pricing the sale at $0.97 a unit, the lower end of an earlier indicative price range.

Samudra is selling about 131 million shares, excluding the greenshoe option, at an indicative price range of $1.89 to $2.11 a share, the term sheet said.

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