When looking to increase their presence in Asia, oil and gas companies prefer to list their stocks on the Singapore Exchange rather than on the Hong Kong Stock Exchange, according to Hong Kong-based lawyer Alastair Macaulay who spoke with Singapore’s Business Times.
In July, two oil and gas companies listed on the Singapore Exchange.
KrisEnergy Ltd. launched an IPO to raise $214.5 million in July, and Rex International Holdings Limited sought to raise $67.7 million from its Singapore listing.
The Singapore market “is also two hours closer [than Australia] to Europe,” Macaulay said.
Australian companies listed on the Singapore Exchange that serve the oil and gas industries included engineering contractors such as Civmec Limited and AusGroup Limited.
Singapore is also the home of the ship-building giant Keppel.
Alastair Macaulay is a partner at the international legal firm Clifford Chance.