this is not looking good...at the low end

Linc Energy’s [ASX:LNC] up to SGD 60m (USD 48m) share offering, inconjunction with its plan to list on the Singapore stock exchange (SGX), is likely to price at the lower end of a SGD 1.15 – SGD 1.55 (AUD 1 – AUD
1.35) indicative price range, two sources familiar with offering said.



A low end price would come as no real surprise since Linc's shares last traded at AUD 0.995 in Sydney.



Linc in October confirmed reports first published on this news service that it wanted to delist on the ASX and list on the SGX. The Australian oil,
gas, shale and coal producer then held investor roadshows for a base size
up to SGD 55m offering of up to 47.85m shares, which is around 8.4% of the
company’s enlarged share capital.



Linc expects to price the share offering today, 9 December and close the books on 16 December. The delisting from the ASX and relisting on the SGX would follow on 18 December.


Linc is still working according to the indicative schedule at press time, said the sources and a company spokesperson. However, the timeline is fluid and subject to change as not all regulatory and exchange approvals have been received.



Credit Suisse, DBS Bank and JPMorgan are the joint issue managers, joint
bookrunners and joint lead managers for the offering.



The company and CEO Peter Bond have agreed to a six month lock up.