Bintulu Port Holdings To Offer New Shares

Tuesday, December 05, 2000
Malaysia's Bintulu Port Holdings, which runs the nation's largest LNG port, plans to offer 100 million new shares to raise at least 400 million ringgit ($105.2 million) under its IPO.

It was reported that 40 million of the shares will be offered to the public and 60 million will be placed with private investors who will include foreigners.

The managing underwriter for Bintulu Port's listing, Commerce International Merchant Bankers (CIMB), is confident its IPO will be well received by investors.

"The port itself is an attractive investment proposition," said a CIMB official. Bintulu port handled 23.6 million tons of cargo from the time it began operations in 1993 until last year.

Of this amount, LNG accounted for 64 percent of its total throughput handled and 81.5 percent of total revenue.

Malaysia's third LNG plant in Sarawak state is due to come onstream in 2002-2003. Bintulu Port's listing would also see a restricted offer for sale of 136 million shares held by the Minister of Finance Inc to state oil firm Petronas and the Sarawak state government.

The issue price is at 2 ringgit ($0.52) a share, and CIMB officials said IPO proceeds could hit 400 million ringgit ($105.2 million) since the private placement to international investors would be at a premium.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

HII Wins $109.4mln U.S. Navy Contract

Huntington Ingalls  has received a $109.4mln contract modification to carry out support services for the U.S. Navy’s nuclear submarines.   The company will work to engineer,

Russia’s Novatek Sells 10% Of Yamal LNG To Chinese Fund

Russia’s second-biggest gas producer Novatek is selling a 9.9 percent stake worth an estimated US$1.4 billion in its Yamal liquefied natural gas (LNG) project

Colachel to Become Major Port

The government of India would soon build a major port at Colachel in the southernmost tip of Tamil Nadu at an estimated cost of $3.2 billion (Rs 21,000 crore),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.6002 sec (2 req/sec)