KUALA LUMPUR: France's Technip Soci''t'' Anonyme will take up a strategic stake in Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) and subscribe for between 8.00% and 9.90% of the enlarged issued and paid-up share capital.
MISC BHD [] said on Friday, Aug 20 that it had signed binding term sheets with Technip and the latter would take up between 128 million shares and up to a maximum of 158.40 million shares upon the proposed listing.
Except for the strategic investor allocation, all other terms of the proposed IPO scheme as set out in the
announcement dated July 23, remains unchanged.
MISC said the sale price would be at a 2% premium to the institutional price of the shares.
"Technip shall not without the prior written agreement of MISC dispose of the shares purchased under the share purchase agreement, for a period of three years from the date of the close of the proposed IPO," it said.
MISC said the agreed principles and plans for the strategic collaboration amongst MISC, Technip and MHB for purposes of capability-building and TECHNOLOGY [] development.
Technip's issued and paid-up share capital is '83,425,950.03 comprising 109.41 million ordinary shares
with a nominal value of '0.7625 each.
Technip is a world leader in project management, engineering and CONSTRUCTION [] for the oil and gas industry, with a comprehensive portfolio of innovative solutions and technologies, and consolidated revenues of '6.5 billion in 2009.
MISC BHD [] said on Friday, Aug 20 that it had signed binding term sheets with Technip and the latter would take up between 128 million shares and up to a maximum of 158.40 million shares upon the proposed listing.
Except for the strategic investor allocation, all other terms of the proposed IPO scheme as set out in the
announcement dated July 23, remains unchanged.
MISC said the sale price would be at a 2% premium to the institutional price of the shares.
"Technip shall not without the prior written agreement of MISC dispose of the shares purchased under the share purchase agreement, for a period of three years from the date of the close of the proposed IPO," it said.
MISC said the agreed principles and plans for the strategic collaboration amongst MISC, Technip and MHB for purposes of capability-building and TECHNOLOGY [] development.
Technip's issued and paid-up share capital is '83,425,950.03 comprising 109.41 million ordinary shares
with a nominal value of '0.7625 each.
Technip is a world leader in project management, engineering and CONSTRUCTION [] for the oil and gas industry, with a comprehensive portfolio of innovative solutions and technologies, and consolidated revenues of '6.5 billion in 2009.
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