Singapore: Pacific Radiance is using proceeds from its Singapore IPO to push through serious fleet expansion. It will buy 10 OSVs, one AWB and an ROV support vessel.
Oversubscribed by 2.2 times Pacific Radiance saw its IPO raise $154.7m as it listed eight days ago on the Singapore Stock Exchange.
The offshore operator sold 171.9m shares at a launch price of 90 cents. [21/09/13]