Singapore: Kim Heng Offshore & Marine Holdings is selling a 25% stake in its company as it looks to list on the secondary board of the Singapore Stock Exchange. The company is issuing 174m invitational shares at S$0.25 a share.
Kim Heng will use the money raised to bolster its shipyard business as well as investing in more tugs. The firm has two yards in Singapore as well as a fleet of 36 tugs and barges.
The offer closes on Monday with shares set to start trading on Wednesday next week. [17/01/14]