Kuala Lumpur: Icon Offshore, an OSV provider in Malaysia, is planning to raise around RM450m from its IPO which is targeted for next year to fund its fleet expansion in the next two years.
Dr Jamal Yusof , ceo of Icon Offshore, said the company planned to build three to five vessels to grow its business overseas with the proceeds from the listing, apart from paying off its debts and for working capital needs.
Yusof said the selected bank would be announced by the end of the month and that the company hoped to list on the Main Market of Bursa Malaysia by May or June next year.
Currently, Icon Offshore has 32 vessels and operates in Qatar, Vietnam, Thailand and Malaysia. [15/10/13]