KUALA LUMPUR: Carimin Petroleum Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its proposed listing on the Main Market of Bursa Malaysia Securities Bhd in November 2014.
The company said M&A Securities would assume the role of adviser, underwriter and placement agent for the exercise.
In a statement today, Carimin Petroleum said the floatation exercise would comprise issuance of 60.7 million new shares, of which 11.7 million would be made available to the public via balloting.
"Another three million shares will be allocated to eligible directors and employees while the remaining 46 million shares will be earmarked for private placement to identified investors," it said.
Carimin Petroleum said it also plans to offer 5.9 million shares by way of private placement to selected investors.
Its managing director, Mokhtar Hashim said the listing would allow the company to accelerate its growth and provide sustainable value to stakeholders.
He said the company plans to purchase vessels for own use, provide marine services to external customers, apart from developing its core business segments, including resources such as yard capabilities.-- Bernama