Singapore: Offshore shipbuilder and operator Otto Marine has appointed UOB Kay Hian as advisors to look at developing its subsea services unit.
Otto is looking to take advantage of this growing part of the offshore industry, and options include a potential listing in Singapore.
Michael See, group executive director, said “The exploration of strategic alternatives for Otto Marine demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus. We believe there are avenues that could afford Otto Marine more versatility to make strategic investment decision to take full advantage of the compelling prospects of the subsea segment and to better position the business for its customers, partners and employees.” [25/08/14]
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