Sapura Kencana to list on May 17, source says
KUALA LUMPUR, May 3 — Sapura Kencana Petroleum Bhd will list on May 17 with a reference price of RM2.30 per share, a source with direct knowledge of the deal told Reuters, paving the way for the country’s biggest oil and gas services merger.
That suggests the listing of the merged SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd could fetch a market value of RM11.5 billion, making it among the top 30 listed firms in the Malaysia.
“The prospectus launch is planned on May 16. Bursa Malaysia has not seen the prospectus as yet, it is due to be sent to them today,” the source, who could not be identified because he is not authorised to speak to the media, said today.
Kencana and SapuraCrest officials were not immediately available for comment. — Reuters