Khasera Baru Plans to Sell Up to $213 Million of Sapura Energy Shares

By FeaturesDow Jones Newswires

KUALA LUMPUR, Malaysia--Khasera Baru Sdn. Bhd. is looking to sell up to 901.5 million ringgit ($213 million) of shares in Malaysian oil-and-gas services firm Sapura Energy Bhd. (5218.KU), according to a term sheet seen Wednesday by The Wall Street Journal.

Khasera is a private company of businessman Mokhzani Mahathir, one of the sons of former Prime Minister Mahathir Mohamad.

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The bookbuilding range for the offer, which represents 605 million Sapura Energy shares, or a 10.1% stake in the firm, was between MYR1.42 and MYR1.49 a share, the term sheet showed. The offer represents an 8% to 12.3% discount to Sapura Energy's closing price of MYR1.62 on Wednesday ahead of the bookbuilding launch.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

November 01, 2017 08:08 ET (12:08 GMT)