Media Release: Clayton Utz acts for Conrad Asia Energy on its successful IPO and ASX listing

27 Oct 2022
Time to read: 1 minutes

Clayton Utz has acted for Singapore incorporated energy company Conrad Asia Energy Ltd (ASX: CRD) on its initial public offering and listing on the Australian Securities Exchange, with the bell ringing today - making it the largest company listing on the ASX in the second half of this year to date.

Corporate partner Mark Paganin and special counsel Stephen Neale led our cross-practice and multi-office team, with key support from special counsel Kate Allison, senior associates William Davies and Kwan Leung, and lawyers William Colreavy, Victoria Bandurski and Somya Rajawat. Other core team members included partner Peter Feros, special counsel Cameron Forbes and senior associate Amy Liu (Tax), partner Ben Cansdale and senior associate Patrick Cranley (Energy & Resources), partner Anna Casellas and lawyer Sarah Thiruneelakandan (Workplace Relations, Employment & Safety), and partner David Benson and special counsel Sam Fiddian (Information Technology & Privacy).

The IPO raised $45 million in the form of CHESS Depositary Interests, giving Conrad Asia Energy an opening market capitalisation of around $233 million. The business will use the funds raised towards the development of its Mako Gas Field (located in the West Natuna Basin, Indonesia) and the growth and the evaluation of new assets. Conrad Asia Energy is an energy company focused on the exploration, appraisal and development of natural gas projects in southeast Asia and particularly in the offshore waters of Indonesia.  It is incorporated in Singapore with operational headquarters in Jakarta, Indonesia, and holds operated tenements in the form of production sharing contracts with the Government of Indonesia.

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