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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

CMA CGM Continues Expansion, Confirms Profits

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer,

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1832 sec (5 req/sec)