Cochin Shipyard’s IPO attracts protests

Cochin Shipyard’s IPO attracts protests

Trade unions in India are gearing up for a series of protests taking aim at the government’s plans to sell a stake in Cochin Shipyard.

Protesters point out that Cochin has been the only shipyard in India that has been consistently profitable over the past five years.

A number of big names are linked with buying into the shipbuilder including Reliance.

The yard has recently filed papers for an IPO worth up to $229m, which will see the government’s stake in the yard reduce from 100% to 75%. The yard initially set out for an IPO 18 months ago, but it was delayed.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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