exploration

Upstream oil and gas company KrisEnergy will open the order books for a Singapore IPO of up to $215 million after Keppel increases its stake and agrees to participate in the $80 million cornerstone tranche.

The London-listed oil and gas exploration and production company says the proceeds from the Cairn India sale will give it “greater operational flexibility”.

The oil and gas explorer's share price falls 5% after the placement is priced at a 9.6% discount.

The IPO follows an $822.5 million private placement last week to Petronas and others.

Indonesia's premier oil and gas producer attracts strong demand for only the country's second CB since Asian financial crisis.