United Energy Group (HKG:0467) is proposing an international issue of bonds to be listed on the London Stock Exchange, a Monday Hong Kong bourse filing said.

Shares of the natural gas and petroleum company were up nearly 2% in Tuesday afternoon trading.

The terms of the issue are yet to be finalized by the company, while Arqaam Capital, DBS Bank, Haitong International Securities, Mashreqbank, and Standard Chartered Bank have been appointed as the initial purchasers.

The firm plans to use proceeds from the issue for general corporate purposes.