Sapura Energy to tweak plan for separate listing of E&P division

PETALING JAYA: Integrated oil and gas (O&G) company Sapura Energy Bhd will have to tweak its plan for a separate listing of its exploration and production (E&P) division on Bursa Malaysia after an earlier proposal was shot down by market regulators.

Sources said the company is likely to seek a lower valuation for the unit, and rework the structure for its proposed initial public offering to comply with the chain listing requirements for listed companies.