Dart Energy Defers International Asset IPO

Date : 05/28/2012 @ 8:04PM
Source : Dow Jones News
Stock : Petrochina Company Limited (PTR)
Quote : 70.12  -0.2 (-0.28%) @ 4:02PM
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Dart Energy Defers International Asset IPO

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Coal seam gas producer Dart Energy Ltd. (DTE.AU) said Tuesday it has deferred listing its international assets on the Singapore Stock Exchange due to weak equities markets and a steep fall in its share price.

Dart was created in 2010 when Arrow Energy's offshore assets were spun out into a different company before Arrow Energy was acquired by Royal Dutch Shell and PetroChina.

Dart still owns some Australian assets, largely in New South Wales state, and has an international portfolio throughout Asia and Europe. It was hoping to list the assets outside Australia in Singapore by the end of the March this year.

The company's shares last traded at 20 cents. They peaked above A$1.30 in October, 2010 after listing in July that year.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

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