Malaysian Bulk Carriers Bhd’s (Maybulk) 21.23%-owned associate PACC Offshore Services Holdings (POSH) is planning an initial public offering (IPO) of up to US$370mil (RM1.21bil) in Singapore, with a good number of the shares going to Malaysian funds, including Hwang Investment Management, sources say.
The listing, scheduled for April 25, is offering some US$325mil (RM1.07bil) worth of shares in POSH under the base offer, which could rise to US$370mil (RM1.21bil) if the overallotment option is exercised, bankers familiar with the matter tell StarBizWeek.