PACC Offshore Services Holdings Ltd ("Posh") is offering 252,020,000 shares at S$1.15 each. The prospectus is here. The international offer will have 212 m shares and the public offering will be 40m shares. Separate from the offering, Cornerstone investors have subscribed for 85.605m shares. Depending on the demand, there is an over-allotment option of another 46.125m shares for price stabilization. The Company will have a market cap of around S$2.038 billion. The IPO will close on April 23 at 12pm and starts trading on April 25.
Principal Activities
Posh is the largest Asia-based international operator of offshore support vessels and one of the top 5 globally with 112 diversified OSVs with the breakdown shown below. It also has one of the youngest AHTS and PSV fleet, which means they are more fuel efficient and environmental friendly.
Financial Highlights
The table below shows the audited performances for ...
