China's Anton Oilfield eyes $150 mln HK IPO

Oil drilling equipment distributor, Anton Oilfield Services, plans to raise US$150 million in an initial public offering of shares in Hong Kong early next year, a Hong Kong newspaper reported on Monday.

The South China Morning Post quoted unidentified sources as saying that Beijing-based Anton Oilfield was looking for investors prior to the listing, and CVC, a private equity fund partly owned by Citi, was considering buying a US$50 million stake.

It gave no further listing details.

Anton Oilfield sells oil drilling equipment to PetroChina , Sinopec , and China National Offshore Oil Corp., the paper said.

Chinese oilfield services firms are growing at a rapid pace as mainland oil companies raise production to meet growing demand.