Cosmo Energy Holdings placement
Mubadala aims to raise around US$287m via selling its 15.8% stake in Cosmo Energy.The stock has been doing well of late owing to the rise in crude prices and Mubadala has sold some stock before and hence, the deal might not be wholly unexpected. However, its an accelerated bookbuild in Japan, which don’t have a great track record.
In this note we will talk about the recent developments and run the deal through our ECM framework.
Cosmo Energy Holdings is an integrated oil business group based in Japan. Co.'s operations are organized along four operating divisions: Oil Exploration and Production segment is engaged in exploration and production of oil through three oil fields located in Abu Dhabi and Qatar; Petroleum segment operates three refineries and production of petroleum based products; Petrochemical segment is involved in development and production of petrochemical products such as para-xylene (PX) and mixed xylene (MX) for polyester fiber and polyethylene terephthalate (PET) bottles; and Other Businesses segment is predominately engaged in wind power generation and wind power generation facilities.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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