Singapore: PACC Offshore Services Holdings (POSH), Asia’s largest OSV operator, owned by Malaysian tycoon Robert Kuok, has had a solid IPO this week. The public offering was five times oversubscribed and raised S$242.9m from 211.2m shares.
Meanwhile, the international offering has received strong institutional support with all 186,820,000 offering shares -excluding the 25,200,000 reserved shares – fully taken up. The reserved shares were also fully subscribed
In total, POSH’s offering of 252,020,000 offering shares was approximately 3 times subscribed. Shares start to trade this morning in Singapore. [25/04/14]