Sindicatum aims to launch $100 mln placement by June-CEO

By David Fogarty

SINGAPORE, May 20 (BestGrowthStock) – Clean-energy project
developer Sindicatum Carbon Capital hopes to launch a private
equity placement worth $100 million by next month ahead of
listing shares in the company, the group CEO said on Thursday.

Singapore-based Sindicatum has 28 projects in China, India,
Southeast Asia and the United States that aim to cut greenhouse
gas emissions. The group has a total of $310 million to invest,
including a fund of more than $200 million.

To date, all of the $310 million is fully committed to the
current project pipeline. “We are not raising a second fund at
this time,” Assaad Razzouk told Reuters in an interview in

Instead, the company has turned to a private placement of
common stock on a pre-IPO basis to several institutional

“At the moment, we are finishing our preparatory work. My
best guess today is that we will launch towards the end of June
and we are expecting to get a result by the end of the year,”
he said.

“Our target amount is $100 million and we will see what the
market conditions are,” he said, but couldn’t comment on the
level of market interest.

Formal listing of the company would follow some time
afterwards, he said.

“We will be looking to list within 12-18 months of the
completion of the pre-IPO private placement, and the listing
venue will be determined based on market conditions and the
advice we receive closer to the time.”

Most of Sindicatum’s projects focus on three areas:
capturing coal mine methane, municipal waste to energy such as
capturing methane from landfills, and agricultural waste.

Methane is a powerful greenhouse gas that can be collected
and burned to create electricity as well as a steady source of
income for project developers.

About three quarters of Sindicatum’s projects are in Asia
and Razzouk said he wanted to increase funding to U.S.

“I expect that although the United States will stay smaller
than Asia, it will experience more rapid growth in terms of our

“Because at the moment, the U.S. is 12-15 percent of the
portfolio. I’d like to see it 20-25 percent, money allocated,
over the next two years.”
Stock Market Money

(Editing by Lincoln Feast)

Sindicatum aims to launch $100 mln placement by June-CEO