SINGAPORE--(BUSINESS WIRE)--Regulatory News:
· First company to dual-list in Norway and Singapore for capital raising
· Secondary listing supports growth plans and provides a platform to tap the Asian and European markets
· Leverage first-mover advantage and inherent innovating spirit to stay ahead of the curve
EMAS Offshore Limited (“EMAS Offshore”, or the “Group”), formerly known as EOC Limited, made its debut today on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”), placing it as the first company to dual-list in Norway and Singapore for capital raising. The secondary listing on the SGX-ST will support the Group’s growth plans, and provide the Group with a platform to tap the Asian and European markets.
“We are delighted with the successful listing of EMAS Offshore on the SGX-ST Mainboard. We would like to thank our investors for their support and confidence in the Group’s growth prospects. We were among the first in Asia to develop deepwater capabilities and this has allowed us to capture a significant market share in the deepwater segment today. We will continue to leverage this first-mover advantage and our inherent innovating spirit to stay ahead of the curve” said Mr Lee Kian Soo, Executive Chairman, EMAS Offshore.
“We are pleased to welcome EMAS Offshore to SGX-ST. With one of the youngest and largest deepwater offshore support vessel fleets in the Asia Pacific and a global business reach, EMAS Offshore epitomises the vibrancy of the offshore sector in Singapore and SGX-ST,” said Lawrence Wong, Head of Listings, SGX-ST.
“We were one of the pioneers to penetrate into high-growth and key cabotage-protected markets. We will strengthen our market presence in Asia Pacific and scale up in growth markets of West Africa, East Africa and MENA to deliver sustainable profits to our investors in Oslo and Singapore,” said Mr Jon Dunstan, Chief Executive Officer, EMAS Offshore.
The Group raised gross proceeds of about S$58.8 million from the public offering. The secondary listing of EMAS Offshore on the SGX-ST is led by DBS Bank Ltd. (“DBS”). DBS and Oversea-Chinese Banking Corporation Limited are the joint bookrunners and underwriters, and United Overseas Bank Limited is the co-lead manager.
ABOUT THE COMPANY
Oslo Børs listing: October 2007 ; SGX Mainboard listing: October 2014
EMAS Offshore Limited ("EMAS Offshore" or the “Company”) is an established offshore services provider offering offshore support services, accommodation, construction and production services to customers in the oil and gas industry throughout the oilfield lifecycle, spanning exploration, development, production and decommissioning stages. Headquartered in Singapore, EMAS Offshore holds a leading market position in Asia Pacific region, operating across key markets of Brunei, India, Indonesia, Malaysia, Philippines, Vietnam and Thailand.
Business activities are carried out by two core business segments namely: (i) the Offshore Support and Accommodation Services division, and (ii) the Offshore Production Services division.
EMAS Offshore’s excellent operational and HSE (health, safety and environment) track record has allowed the Company to establish strong working relationships with leading international oil majors, national oil companies and various independent operators.
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