Asia/Pacific News
Bunker Firm to List Shares on NYSE
Wednesday August 14, 2024
TMD Energy Ltd, a subsidiary of Malaysia's Straits Energy Resources, is set to list its shares on the New York Stock Exchange.
The firm has now decided to list its shares on the NYSE, rather than its previous plan to list on the NASDAQ, Straits Energy Resources said in a regulatory filing this week.
The company plans to issue a final prospectus for the proposed IPO in the fourth quarter of this year.
"TMDEL Group intends to utilise the proceeds of up to approximately RM50.93 million towards the expansion of its oil bunkering segment, which may include but is not limited to, the purchase of cargo oil," the company said in the filing.
