Kuala Lumpur: Malaysia-listed Carimin Petroleum has announced its initial public offering (IPO) of shares on the main market of Bursa Malaysia Securities.

The IPO has a tentative listing date of November 10.

The IPO will consist of the public issue of 60.7m new ordinary shares of RM0.50 each, Carimin said in an exchange filing today.

A further 5.89m existing shares will be sold by way of placement to identified investors at an issue/offer price of RM1.10 per share.

The Kuala Lumpur-based Carimin group provides a range of project design, construction, maintenance and technical advisory services to the oil and gas industry, including marine support services.