Fund managers keeping an eye on Icon Offshore IPO valuation

PETALING JAYA: Fund managers studying the upcoming listing of Icon Offshore Bhd are awaiting the indicative initial public offering (IPO) pricing of the company, as they are concerned about softening charter rates.

“Whether or not we buy the shares will depend on the valuation. If it is something above 15 times price earnings ratio, then the likelihood is that we will pass,” said a fund manager.