CC and Latham lead on KrisEnergy's £139m Singapore IPO
Clifford Chance, Latham & Watkins and Allen & Gledhill have acted on the S$270.8m (£139m, $214m) initial public offering (IPO) of KrisEnergy in Singapore. The oil and gas explorer, which is based in the island city-state, issued 151.99m shares on the Singapore exchange at $1.10 per share, and sold a further 94.16m shares to cornerstone investors.
July 29, 2013 at 10:57 PM
2 minute read
Clifford Chance (CC), Latham & Watkins and Allen & Gledhill have acted on the S$270.8m (£139m) initial public offering (IPO) of KrisEnergy in Singapore.
The oil and gas explorer, which is based in the island city-state, issued 151.99 million shares on the Singapore exchange at S$1.10 (£0.56) per share, and sold a further 94.16 million shares to cornerstone investors.
Magic circle firm CC acted for Kris on its Singapore debut, fielding a team of six led by corporate partners Raymond Tong and Johannes Juette, who advised on Singapore and US law respectively.
The firm's Amsterdam practice, led by partner Jeroen Thijssen, advised on Dutch law in relation to KrisEnergy's Dutch subsidiaries.
Singapore outfit Allen & Gledhill and US firm Latham jointly represented the bookrunners on the deal, which included CLSA Singapore and Merrill Lynch (Singapore).
Allen & Gledhill's team, which provided local law advice, was overseen by the firm's head of equity capital markets Tze Gay Tan and corporate partner Rhys Goh.
Meanwhile, Latham, which advised on US aspects of the deal, fielded a group led by Singapore partners Michael Sturrock and Sharon Lau.Los Angeles corporate partner Samuel Weiner also provided tax advice whilst Chicago partner Nabil Sabki advised on rules related to the US Investment Company Act.
Offshore firm Walkers acted for KrisEnergy on Cayman, Jersey and BVI legal matters, overseen by corporate partners Thomas Granger and Nigel Weston.
KrisEnergy is an independent upstream company based in Singapore, whose strategy involves acquiring assets and basins throughout Southeast Asia for the exploration, development and production of oil and gas. Major shareholders include Keppel Corporation and private equity outfit First Reserve, which focuses exclusively on energy.
The company currently has 14 contract areas in Indonesia, Thailand, Vietnam and Cambodia, but said it plans to use the funds raised from the IPO to make further acquisitions and for capital expenditures, including the development of its existing assets.
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