JAKARTA (Rambu Energy) – EMAS Offshore Limited, formerly known as EOC Limited, has launched its public offering of shares on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST).
The company is offering 48.585 million shares, approximately 11 percent of EMAS Offshore’s enlarged post-offering share capital of 439.7 million shares, at a price of S$1.21 per share,
Three of the major banks in Singapore, namely DBS Bank Limited (DBS), Oversea-Chinese Banking Corporation Limited (OCBC) and United Overseas Bank Limited (UOB) are assisting the company on the proposed dual listing on SGX-ST. DBS has been appointed as lead underwriter, OCBC as joint book-runner and underwriter, while UOB as co-lead manager for the listing.
The offering period has been set from Sep 29 to Oct 2, 2014, while listing on SGX-ST is set on Oct 8, 2014. The company’s shares have earlier been listed on Oslo Børs in October 2007.
EMAS Offshore is an established offshore oil and gas services provider which offers offshore support, accommodation and offshore production services to customers in the offshore oil and gas industry throughout the oilfield lifecycle, spanning exploration, development, production and decommissioning stages.
The company is headquartered in Singapore and operates across key markets of Brunei, India, Indonesia, Malaysia, Philippines, Vietnam and Thailand. Outside Asia, EMAS Offshore is also scaling up in growth markets of West Africa, East Africa and MENA.
EMAS Offshore is also an associate company of Singapore Exchange-listed Ezra Holdings Limited, a global offshore contractor and provider of integrated offshore solutions to the O&G industry. (*)