Bumi Armada is seeking to raise around $1 billion in an initial public offering (IPO), Reuters reports. The Malaysian oil and gas services provider is aiming to file a draft prospectus with Malaysian regulators for the same.

The size of the offering has been increased from an initially planned $800 million. Bumi Armada’s IPO has been postponed several times in the past few years. The company is an offshore support specialist.

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