Cleary Gottlieb Steen & Hamilton and Clifford Chance had the lead roles on UMW Oil & Gas Corp. Bhd.’s $740 million initial public offering, the largest so far in Malaysia this year.

The company, a division of state-owned conglomerate UMW Holdings Bhd., provides offshore drilling and onshore pipeline services to clients in Southeast Asia, China, and Turkmenistan. The IPO launched last month, and the stock began trading on the Bursa Malaysia exchange on Nov. 1.