Petronas Carigali Initial Public Offering (IPO) in 2011?


It was speculated earlier that Petronas Carigali to listed in Bursa Malaysia when Prime Minister announced to reduce state ownership in the private sector early this year. However, it did not materialize after Petroliam Nasional Bhd (Petronas) listed Malaysia Marine and Heavy Engineering Holdings Bhd (MHE) and Petronas Chemicals Groups (PCG).

Now, the speculation come to surface again as a few of stock research companies such as MIDF Research and OSK Research release reports of possible IPO for Petronas Carigali.

Petronas Carigali Sdn Bhd is the exploration unit of Petronas, may be listed on Bursa Malaysia in 2011 and it is expected to attract a large number of foreign funds.

Petronas Carigali initial public offerings (IPO) will be the mother of all IPO in Malaysia. It should be the largest IPO ever in Malaysia, with a potential market value of close to RM150 billion.

This would eclipse current leader CIMB Group Holdings Bhd & Malayan Banking Bhd, with a market value of RM63.55bil and RM62 billion respectively.

Unfortunately, Petronas has shot down market talk that it will list wholly-owned exploration and production unit Petronas Carigali Sdn Bhd. Bursa Malaysia also clarified that its listing department had not received any new listing application by Petronas.

Will Petronas listed Petronas Carigali in Bursa Malaysia?

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