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Offshore marine firm POSH raises $389 mil in Singapore IPO: Update PDF Print E-mail

Tags: PACC Offshore Services

Written by Reuters   
Thursday, 17 April 2014 20:28
PACC Offshore Services Holdings (POSH) could raise at least $389 million after pricing its initial public offering near the bottom of the pricing range indicated earlier, the company said on Thursday.
 
The deal comes as Singapore’s IPO market has struggled in recent years. Most big-ticket listings in Asia opt for Hong Kong where there is more robust demand from Chinese and international investors.
Last Updated on Thursday, 17 April 2014 20:29
 
ComfortDelgro shares near 11-month high; Singapore index flat PDF Print E-mail

Tags: ComfortDelGro | Ezion Holdings | Hong Leong Group

Written by Reuters   
Thursday, 17 April 2014 15:12

Shares in ComfortDelgro rose to their highest in nearly 11 months on Thursday, outperforming a flat Singapore market following weaker-than-expected March export data.

ComfortDelgro shares surged 3% to as high as $2.09, its highest since May 22, 2013. Around 6.2 million shares of the company changed hands, more than 1.7 times its 30-day trading average.
Last Updated on Thursday, 17 April 2014 15:14
 
Singapore’s weak March exports cast pall over outlook PDF Print E-mail
Written by Reuters   
Thursday, 17 April 2014 12:57

Singapore’s exports in March fell more than expected on declines in shipments to the United States and Europe, official data showed on Thursday, clouding the city-state’s trade outlook.

Non-oil domestic exports slid 6.6% in March from a year earlier, according to the trade agency International Enterprise Singapore, far below a median forecast of a 0.8% dip in a Reuters poll.

Last Updated on Thursday, 17 April 2014 12:58
 
Offshore marine firm POSH may raise $389 mil in Singapore IPO PDF Print E-mail

Tags: PACC Offshore Services

Written by Reuters   
Thursday, 17 April 2014 11:33

PACC Offshore Services Holdings (POSH) could raise at least $389 million after pricing its initial public offering near the bottom of the pricing range indicated earlier, two sources with knowledge of the matter said.

Underwriters have recommended POSH to price the deal at $1.15 a share against an indicative price range of $1.13 to $1.24 a share, the sources said. The company is selling 337.625 million shares excluding the greenshoe option.

Last Updated on Thursday, 17 April 2014 11:36
 
Apr 17: Morning preview PDF Print E-mail
Written by The Edge   
Thursday, 17 April 2014 08:59

Shares in Singapore ended 0.21% higher on Wednesday, in line with regional bourses, following overnight gains on Wall Street. The Straits Times Index rose 6.88 points to end at 3,253.20. Here are some stocks that could move the market this Thursday morning:

Keppel Corp’s first-quarter net profit fell 5% from a year ago to $339 million despite group revenue rising 8.6% to $2.996 billion.

Keppel Land's first-quarter net profit fell 9.2% from a year ago to $87.7 million, despite the company's group revenue rising 37.6% on-year to $284.9 million in the same quarter.

Medical device-maker QT Vascular priced its initial public offering (IPO) on Catalist at 28 cents per share to raise $55 million for product development and working capital.

 
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