Home THE DAILY EDGE Business Malaysia’s KNM targets Singapore IPO for German unit in 2013
Malaysia’s KNM targets Singapore IPO for German unit in 2013 PDF

Tags: KNM Group

Written by Reuters   
Friday, 07 September 2012 12:12
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Malaysian oil and gas services provider KNM Group will list its German industrial equipment unit on the Singapore stock exchange next year.

The unit, Borsig Beteiligungsverwaltungsgesellschaft mbH, will have an indicative valuation of 1.8-1.9 billion ringgit ($722 million-$759 million) when it lists, KNM told the Malaysian stock exchange late on Thursday. KNM bought Borsig in 2008 for approximately 1.7 billion ringgit.

KNM said it had appointed UOB Bank as the sole manager, underwriter and placement agent for the planned listing.

The IPO comes as Singapore sees a pick up in listing activity this year, with the dual listing of IHH Healthcare  in a $2.1 billion deal and Far East Hospitality Trust , which raised US$575 million ($714 million) in an IPO in August.

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Last Updated on Friday, 07 September 2012 12:17