Linc Energy launches Singapore IPO

Linc Energy Ltd.

Linc Energy Ltd. has launched an IPO of 47,850,000 offering shares (subject to the over-allotment option of an additional 4 million shares) at an offering price of S$1.20 per offering share in conjunction with its proposed listing on the main board of Singapore Exchange Securities Trading Ltd. (SGX-ST). Linc expects to raise estimated net proceeds of approximately S$47.9 million (US$38.4 million or A$41.1 million) from the offering (assuming the over-allotment option is not exercised).

Linc Energy is moving its listing from the Australian Securities Exchange in favor of the SGX-ST in a move to tap the growing demand for oil and gas resources in Asia. Credit Suisse (Singapore) Ltd., DBS Bank Ltd., and JP Morgan (SEA) Ltd. are the joint issue managers, joint bookrunners, and joint lead managers of the offering.

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