Oil, Gas Firms Prefer Singapore to Hong Kong to List Stocks

Oil and gas companies seeking a presence in the Asia Pacific prefer to list their stocks on the Singapore Exchange rather than on the Hong Kong Stock Exchange, Hong Kong-based Alastair Macaulay, a partner at international legal firm Clifford Chance told Singapore daily the Business Times Friday.

Singapore was preferred as it was more on an international hub compared to Hong Kong, which is more China-focused. Another factor cited in Singapore's favor, which has attracted companies like Australian oil and gas producer Linc Energy to announce Oct. 2 that it is seeking a listing in the island-state, was the availability of a more active market.

In addition, the Singapore market "is also two hours closer [than Australia] to Europe," Macaulay said.

Australian companies listed on the Singapore Exchange that serve the oil and gas industries included engineering contractors such as Civmec Limited and AusGroup Limited.

Two oil and gas companies have listed on the Singapore Exchange recently. KrisEnergy Ltd., an independent upstream oil and gas company, launched an initial public offering (IPO) to raise $214.5 million in July, while another independent oil exploration company Rex International Holdings Limited seek to raise $67.7 million from its Singapore listing later the same month.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Financial Reporting Analyst
Expertise: Accounting
Location: Houston, TX
 
AP Specialist
Expertise: Accounting
Location: Alpharetta, GA
 
Pricing Analyst - Amarillo, TX Job
Expertise: Accounting|Budget / Cost Control|Cost Engineer
Location: Amarillo, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours