Universal Terminal tipped to launch IPO

Singapore: One of the largest oil storage complexes in Asia, Singapore's Universal Terminal, is planning an IPO, according to Reuters. The listing is looking to raise as much as $800m.

Universal Terminal has yet to confirm the news. The terminal is held by Singaporean firm Hin Leong Group and PetroChina. Located on Jurong Island, the terminal can hold 2.36m cu m of fuel and is spread over 56 ha.  [14/08/14]

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