Arrow Energy Ltd, gas explorer and producer from Australia, revealed its plans to float part of its overseas assets. Reportedly Arrow will spin off 20% of its international business though an Initial public Offering that might be either in Hong Kong or Singapore. The company will use the money raised through this IPO to fund Arrow's international arm itself separately.

The company said that this listing is a part of its plans to develop significant operations in China, Indonesia and India. Arrow said that the listing would be in the first half of the fiscal year 2010-11. After the selling of shares, Arrow will retain 70% stake in its International arm as energy giant Royal Dutch Shell Plc.

already holds 10% stake in the unit. Also the fund raised by this listing would make the company free to focus on its A$2.2 billion Fisherman's Landing venture that is a liquefied natural gas (LNG) project in Australia and is scheduled for final approval in 2010. The company has already reached to an agreement with Liquefied Natural Gas Ltd. to buy 100% stake of the venture.

And after this listing the company can use its current cash on this ambitious A$ 2.2 billion venture by which the company plans to tap gas extracted from coal seams for conversion to liquid form and export to Asia. Arrow Energy also released its first quarter results on Wednesday and posted a loss of A$16.26 million for the period while for the same period last fiscal it posted a net profit of A$241.19 million.