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Miclyn Express Offshore

Oil services firm Miclyn Express Offshore plans to list in in H2 and could raise over US$200 million in its IPO, a source said on Mon.

The Singapore-based company has mandated Macquarie Capital and JPMorgan as lead managers for the IPO, one person briefed on the deal told Reuters.

The company, which has a shipyard in Batam in Indonesia, provides offshore support vessels, crew and utility vessels and barges to the offshore oil and gas industry in the Middle East, Southeast Asia, India and Australia, according to its Web site.

Miclyn was not immediately available for comment.

Miclyn Express Offshore is owned by Macquarie after the firm was formed by the merger of Macquarie-owned Express Offshore Transport and Miclyn Offshore last year, the source said.

India's Aban Offshore is also looking to list in Singapore this year, but the timing remains uncertain given volatile markets, bankers said.