NauticAWT to issue $2.8-mln IPO

Singapore

SINGAPORE, July 15, 2015 – On Tuesday, Singaporian subsea entity NauticAWT launched an initial public offering with a projected value of around $2.8 million. The company’s IPO is set to open early July 15 and end July 21.

The IPO compliments NauticAWT’s planned listing on the Singapore Exchange Securities Trading Catalist board. The company will issue 28 million invitation shares at $0.147 each, made up of 27 million placement shares and 1 million public offer shares.

The firm, which specialises in production asset life extension as well as subsea and surface facilities engineering services, plans to use the funds generated from the IPO to strengthen contracting services and expand their business scope through joint ventures, acquisitions and investments.

NauticAWT has participated in more than 100 surface facility and subsea projects around the world in addition to work done on more than 1,500 well engagements and subsurface works.

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