Walkers advises Kris Energy on Singapore IPO worth SGD 1.3 billion
30 Jul, 2013
Leading international offshore law firm Walkers has advised KrisEnergy Ltd on its Singapore Initial Public Offering, with a market capitalisation of approximately SGD 1.3 billion. The deal is expected to raise SGD 270.8 million of new money and around SGD 94.1 million new shares have been offered to the company’s six cornerstone investors.
Singapore-based Kris Energy focuses on the exploration, development and production of oil and gas in Southeast Asia, and is actively pursuing the expansion of shareholder value growth and to build a more diversified portfolio. The IPO will offer investors the opportunity to access one of the world’s fastest growing oil and gas companies amid growing demand for the two commodities in the Asia-Pacific region.
The Walkers team was led by Thomas Granger – Partner, joined by Stuart Baldwin – Senior Counsel, and Casheen van Halder – Associate, who advised on Cayman and British Virgin Islands law out of Walkers’ Singapore office. The Jersey law aspects of the deal were advised on by Partner Nigel Weston (pictured), alongside Associate Christophe Kalinauckas.
Kelvin Tang, VP Legal at KrisEnergy, said: “The IPO was a significant milestone for KrisEnergy, and we were supported by an international team of high-quality lawyers, including Walkers, who helped to ensure a successful listing.”
Thomas Granger, commenting on the IPO, said: “This has been a high profile deal for an important Walkers client and involved a number of lawyers from our Cayman, Jersey, Hong Kong and Singapore offices. This deal continues Walkers’ strong track record of advising global companies to list on stock exchanges, along with our experience in the energy sector.”
Nigel Weston added: “It is great to see a fast growing business like Kris Energy coming to SGX to raise new money, and exploiting the growing demand to explore, develop and produce oil and gas in Southeast Asia.”
Clifford Chance Pte Ltd was legal adviser to Kris Energy as to Singapore law, US federal securities law and New York Law.