GC
Samudra out of fuel for $223m Singapore IPO
Indonesian oil and gas exploration firm Samudra Energy pulled its S$276.3m ($223m) Singapore IPO this week, as volatile market conditions following the S&P 500’s big fall led to weak demand from investors.
Samudra opened books for its IPO on July 25 and offered 131.1m primary shares at an indicative price range of S$1.89-S$2.11 a share. Pricing was due on August 5, but bankers told GlobalCapital Asia that the company had decided to pull its listing.
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