By Toby Geoghegan
Clifford Chance has advised Southeast Asian upstream oil and gas company KrisEnergy on its S$270.8 million ($213 million) initial public offering, with Latham & Watkins advising the underwriters.
KrisEnergy was advised by Syed Ishtiaq Ahmed & Associates on Bangladesh law, Walkers on BVI, Cayman Islands and Jersey law, Khmer Intellectual Law Firm on Cambodian law, Makarim & Taira S. on Indonesian law, Chandler and Thong-ek Law Offices on Thai law, and Vilaf on Vietnamese law. Meanwhile, Allen and Gledhill advised the joint issue managers, global coordinators, bookrunners and underwriters on Singapore law.
KrisEnergy, supported by Keppel Corp and Private Equity Firm First Reserve, is selling 151.99 million shares and an additional 94.16 million shares to cornerstone investors at S$1.10 per share. A media report quoted Richard Lorentz, executive director of the company, as saying that the company will use the proceeds to bring six fields in Southeast Asia to post-production, and for working capital and reserves.
The Clifford Chance team was led by partners Raymond Tong and Johannes Juette, while partner Jeroen Thijssen advised KrisEnergy's Dutch subsidiaries on Dutch law. Singapore partners Michael Sturrock and Sharon Lau led the Latham team, and were supported by Los Angeles partner Samuel Weiner and Chicago partner Nabil Sabki. Meanwhile, the Walkers team was led by Singapore partner Thomas Granger (providing Cayman and BVI law advice) and Jersey partner Nigel Weston (providing Jersey law advice).
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