Norway-listed oil marine operator BW Offshore has delayed plans to dual list its shares on the Singapore Exchange to the second half of this year because it did not immediately need the capital, said the head of its parent company.
“Originally we were thinking the first half of this year and now possibly it will be in the second half, but it is very much dependent on when we have an interesting project that needs the capital,” said Andreas Sohmen-Pao, chief executive of privately-held BW Group, at an industry conference.
The BW Group is the result of a merger in 2003 between World-Wide Shipping and Norway’s Bergesen, the largest gas carrier operator in the world.
The company, which publicly listed BW Offshore in 2006, said it had no immediate plans to do the same for its two privately held maritime and gas divisions.
“We are very much open to looking at the public capital markets as a means of funding for growth, but the conditions for it have to be right in terms of size, scale and investor appetite,” Sohmen-Pao said.
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