Samudra Energy withdraws Singapore IPO on fears of market volatility

It could have raised as much as S$276 million.

Samudra Energy, an Indonesian oil and gas company, said that it will not proceed with its initial public offering (IPO) in Singapore now, due to fears of market volatility.

According to Reuters, the deferment came as units in Accordia Golf Trust , which raised S$758.54 million ($608 million), made its trading debut 10 percent below the IPO price on the Singapore Exchange (SGX) on Friday.

"In light of recent heightened market volatility, the company has decided not to proceed with the IPO at this time," the company said in an email to Reuters.

Read the article in full here

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!