PetroChina asset seeks $800M in Singapore IPO

Singapore-based petroleum storage company Universal Terminal, 35% owned by PetroChina (NYSE:PTR), reportedly is looking to raise 1B Singapore dollars (US$800M) from an IPO in the next year.

The company, majority owned by Singapore billionaire Lim Oon Kuin's Hin Leong Group, is said to be talking to banks for a potential listing through a business trust, and is in the process of seeking approval from its shareholders including PTR.

An IPO would test investor appetite for trusts in Singapore, Asia's top venue for such stocks, at a time when demand is flagging.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs