Malaysian oil and gas services and solutions provider SepuraKencana Petroleum has raised M$1.64 billion $527 million from a private placement of new shares, which it will use to fund the earlier announced acquisition of the tender rig business owned by its long-term Norwegian partner Seadrill.
The outcome of the deal was announced during the lunch break on Wednesday, but according to a source, the bookrunners have been talking to potential investors for some time. The completion of the placement, which is the largest equity capital markets transaction in Malaysia since Maybank raised $1.19 billion from an overnight follow-on in early October, means the company has taken a significant step...
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