Singapore: Neptune Orient Lines (NOL), desperate to get back into the black, is looking at the possibility of selling its subsidiary APL Logistics, or putting it up for an IPO.
“NOL wishes to state that it continually evaluates all available options to improve the strategic positioning and performance of its businesses. These include considerations of a potential sale or initial public offering and listing of its logistics business as a separate, stand-alone unit from NOL,” Singapore’s preeminent shipping line said in a release to the Singapore Exchange, adding:
“These considerations are preliminary and exploratory in nature. There is no assurance that any definitive transaction for the sale or an IPO of NOL's logistics business will be concluded.” [20/08/14]