Solid interest for POSH shares

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]

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