BGN Entrepreneur

Miclyn Express Offshore, which is a singapore-based oil and gas services company partly owned by Macquarie Group, plans to raise up to A$365 million in the largest initial public offering in Australia in 2010.
This month’s IPO of the company will become an important test of the investors’ appetite following a series of disappointing news in the Australian stock market.
With Ray Rider cutting the holding from around 40% to 10%, Depending on the strength of the institutional and retail share offerings, Macquarie could reduce its stake from 59% to 30%.
A successful debut could help the company pave its way for other listings of companies owned by private equity groups, that are keen to exit investment.

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