Aban Offshore to list Singapore subsidiary

Singapore: Indian offshore drilling services provider Aban Offshore is planning to list its Singapore subsidiary, Aban Singapore, on the Singapore Stock Exchange to raise around $500m.

The raised funds will be used to repay part of Aban Offshore’s debt, which is currently around $2.3bn.

"We are waiting for the market to come up, when we get right opportunity we will list the Singapore subsidiary in the Singapore Stock exchange," said Reji Abraham, managing director of Aban Offshore. [22/09/14]

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