Straits associate firm Banle Energy to file for HK IPO

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KUALA LUMPUR: Straits Inter Logistics Bhd said an associate company involved in the marine fuel logistics business is seeking a listing on the Hong Kong Stock Exchange.


Straits said its 38% associate firm Banle Energy International Ltd will undertake a restructuring exercise to prepare for the initial public offering (IPO).

"The details of the Proposed Exercise, including the corporate structure of BIH Group, size and structure of the Proposed Listing, the issue price and the amount of proceeds to be raised, will only be determined at a later date closer to the launch of the Prospectus of BIH and is subject to obtaining the relevant approvals from all governing authorities pertaining to the Proposed Listing," it said.