Malaysian oil and gas services provider Bumi Armada has set a price range of RM2.80 to RM3.15 per share for its public offering next month, raising as much as US$906 million (RM2.7 billion), according to a term sheet seen by Reuters today.Bumi Armada is an offshore support specialist, and is the only Malaysian company that owns floating production storage and offloading (FPSO) vessels, which carry a premium lease rate.
Bumi Armada was privatised in 2003 by tycoon T. Ananda Krishnan, and a planned relisting in 2008 was delayed due to the global financial crisis.
CIMB is the joint global co-ordinator and bookrunner for the offering. — Reuters