BW Offshore IPO: Norway’s BW Offshore, the world’s 2nd largest FPSO owner and operator, has started the process to list in SG and will announce details of the plan next week. Firm’s dual listing plans are likely to benefit from the existing agreement between OSLO and SGX. Various sources said that the Co. has started the process for its dual listing and is expected to happen by end of this yr….
DNB Nor note that outlook for energy mkt and grp’s positions remain strong, with spending in the offshore oil explortation tipped to hit record highs this year (Estimat spending of US$500b). We note that the listing could potentially open SGX doors to future O&M listings from EU, as the number of listed EU O&M players (e.g STX OSV) on SGX increases, which could potentially improve valuations of local peers.
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