Indonesia’s Samudra Energy wooing investors for Singapore IPO

It aims to raise $250m.

Samudra Energy, an Indonesia-based oil and gas exploration firm, has begun wooing investors for its upcoming Singapore IPO.

According to a report by Reuters, the company is seeking to raise US$200 to 250 million from its IPO.

“The company has begun "pre-marketing" - tapping potential investors - which will continue for two weeks, while book-building for the deal is expected to start in late July or early August, IFR said,” the report noted.

Here’s more from Reuters:

Samudra Energy is part of private equity firm Northstar Group, which focuses on Indonesia and Southeast Asia.

The company could not be immediately reached for comment, while an external spokesman for Northstar declined to comment.

Credit Suisse and Nomura are the joint global co-ordinators and bookrunners with CIMB, IFR reported.

The listing plan comes after Singapore's IPO market saw its slowest start to a year since the first half of 2012.

Just six companies were listed from January until June 20, fewer than Thailand and Bangladesh which have had nine each, and far behind Hong Kong which has had 30, according to Thomson Reuters data.