EMAS Offshore’s secondary SGX listing today to expand oil, gas and services sector by 4.4%

The company is currently worth S$532m.

EMAS Offshore continues to grow, and has scheduled to commence its secondary listing on SGX today.

According to SGX, EMAS Offshore’s secondary listing is expected to add over 4% in capitalisation to the oil & gas equipment & services sector which is already worth $12.2b. 

SGX adds that of EMAS Offshore’s offer size of 48.585m shares, 39.5m are allocated to the placement tranche and 9.085m to the public tranche. DBS Bank is involved as its sole global coordinator and issue manager, and joint book runner and underwriter. OCBC is also the joint book runner and underwriter, and United Overseas Bank is the co-lead manager.

EMAS Offshore has two main business segments – the Offshore Support and Accommodation Services division and the Offshore Production Services division. The company has operations in Asia, including Brunei, India, Indonesia, Malaysia, Vietnam and Thailand. The market capitalisation of EMAS Offshore is expected to be S$532 million.