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Warburg Pincus-backed AAG Energy launches up to $364 mln HK IPO-IFR
June 8, 2015 / 3:11 AM / 2 years ago

Warburg Pincus-backed AAG Energy launches up to $364 mln HK IPO-IFR

HONG KONG, June 8 (Reuters) - AAG Energy Holdings Ltd, which produces energy from natural gas found in coal, launched on Monday an up to $364 million initial public offering in Hong Kong, IFR reported on Monday, citing a term sheet of the transaction.

The IPO consists of 761 million shares, at an indicative range of HK$3.00 to HK$3.70, putting the total deal at up to HK$2.82 billion ($364 million), said IFR, a Thomson Reuters publication. About 87 percent of the shares on offer are new shares, and the rest come from shareholders including private equity firm Warburg Pincus, the term sheet showed.

A group of five cornerstone investors agreed to buy $229 million worth of AAG Energy shares, helping secure demand for the deal before it was launched to retail and other institutional buyers. ($1 = 7.7528 Hong Kong dollars) (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Miral Fahmy)

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