Ezra Eyes US Listing for Subsea Services Unit EMAS AMC
Singapore's integrated offshore oil and gas solutions provider Ezra Holdings Limited (the Company) announced Friday that it has appointed J.P. Morgan (S.E.A.) Limited to advise the Company on strategic options, aimed to optimize the international profile and competitive position of its subsea services division, EMAS AMC. Potential options include a listing in the United States of America. The Company remains committed to the business and the review is intended to unlock value for shareholders and to enhance access to capital.
Commenting on the Company’s plans, Lionel Lee, group CEO and managing director, said, “We have built a relatively strong foundation for EMAS AMC. The fundamentals of the subsea industry are positive resulting in strong prospects for our subsea business in areas such as North America and Europe. We believe that it is timely for us to review our strategic plans for EMAS AMC as it develops its next phase of growth.”
The Company will keep the market and shareholders appropriately informed of further material developments.
Shareholders are advised to refrain from taking any action in respect of their shares in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the shares of the Company.
WHAT DO YOU THINK?
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.
- Singapore Banks' Sour Loans In Focus As Oil Service Sector Stresses (Feb 10)
- Japan's NYK Completes Acquisition of 25% Stake in EMAS CHIYODA Subsea (Sep 30)
- Asia Oil, Gas Layoffs Mount as Industry Recovery Stays Elusive (Sep 08)