Ezra ponders U.S. IPO for subsea division

JANUARY 17, 2014 — Singapore's Ezra Holdings Limited has appointed J.P. Morgan (S.E.A.) Limited to advise it on "strategic options, aimed to optimize the international profile and competitive position" of its subsea services division, EMAS AMC.

Potential options include a listing in the U.S.

Ezra says it remains committed to the business and the review is intended to unlock value for shareholders and to enhance access to capital.

“We have built a relatively strong foundation for EMAS AMC," said Mr. Lionel Lee, Group CEO and Managing Director. "The fundamentals of the subsea industry are positive resulting in strong prospects for our subsea business in areas such as North America and Europe. We believe that it is timely for us to review our strategic plans for EMAS AMC as it develops its next phase of growth.”