Southeast Asia-focused oil and gas company KrisEnergy, which is backed by global private equity and infrastructure investment firm First Reserve, closed its first day of trading on the Singapore Exchange (SGX-ST) at SGD1.155 (approximately US$0.91) per share, a five percent increase from its offering price of SGD1.10 (approximately US$0.87). The company sold 151.99 million shares publicly and an additional 94.16 million shares to cornerstone investors, raising gross proceeds of SGD270.8 million (approximately US$213.7 million). First Reserve’s equity stake is reported to have fallen from 78.9 percent to 45.2 percent after the offering. KrisEnergy is involved in the exploration, development and production of oil and gas in Southeast Asia.