Samudra Energy fires $223m Singapore IPO

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By Rev Hui
31 Jul 2014

Indonesian oil and gas exploration firm Samudra Energy is tapping investors to raise up to S$276.3m ($223m) in an IPO. Samudra started receiving bids on July 25 and is planning to list by the middle of August.

The company is offering investors a 37% slice of itself by issuing 131.1m primary shares at an indicative price range of S$1.89-S$2.11 per share. That translates to an EV/2P valuation of $8.30-$8.90 per barrel of oil equivalent (boe). EV/2P is a standard valuation metric for oil and ...

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