UMW Oil & Gas Corporation Berhad in the Largest Malaysian IPO in 2013

Cleary Gottlieb represented UMW Oil & Gas Corporation Berhad (UMW-OG) and the selling shareholder, UMW Holdings Berhad (UMWH), in UMW-OG’s Ringgit Malaysia 2.4 billion (approximately $745 million) initial public offering, the largest initial public offering in Malaysia this year. CIMB, Credit Suisse, Goldman Sachs and Maybank acted as joint global coordinators. The shares were sold through a registered public offering in Malaysia and through a Regulation S offering outside the United States. The deal priced on October 17, closed on October 30 and the shares of UMW-OG were listed on the Main Market of Bursa Malaysia Securities Berhad on November 1.

UMW-OG is a Malaysia-based multinational provider of drilling and oilfield services for the upstream sector of the oil and gas industry. It provides offshore drilling and workover well services and offers threading, inspection and repair services for pipes used in the oil and gas sector. It has operations in Malaysia and other parts of South East Asia, as well as China. Its parent company, UMWH, is a leading industrial conglomerate in Malaysia, with diverse and global businesses in the automotive, equipment, manufacturing and engineering, and oil and gas industries. UMWH has a market presence in countries including Malaysia, Singapore, Indonesia, Thailand, Myanmar, Vietnam, Papua New Guinea, Australia, Taiwan, China, India, Oman and Turkmenistan.