Highlights

Value Investor Research on KLSE Market

Author: value_investor   |   Latest post: Fri, 25 Jul 11:02

 

Maybulk's associate POSH Semco seeking listing in Singapore

Author: value_investor   |   Publish date: Tue, 30 Jul 10:26   |  >> Read article in Blog website


Offshore marine services provider POSH Semco, controlled by Malaysia's richest man Robert Kuok, is seeking to list shares in Singapore in a deal worth S$300m to S$500m, sources said. The deal is expected to be launched in September or October, two people with direct knowledge of the deal told Reuters. POSH Semco's market capitalisation is expected to reach nearly US$1bn after its shares are listed. POSH Semco owns and operates a fleet of more than 100 vessels, providing support for offshore oil and gas activities. One source said the figures were preliminary as the deal has yet to be launched and that POSH Semco has not determined how existing and new shares will be sold in the IPO. (BT)

Malaysian Bulk Carriers (Maybulk) owns a 21.23% stake in POSH Semco after purchasing the stake from Pacific Carriers (a Kuok-backed company) for US$221m in 2008. Under its purchase agreement to buy the stake in POSH Semco, Maybulk has the option to sell it back to Pacific Carriers for US$276.25m (25% premium to the purchase price) if POSH is not listed by end-2013. Based on POSH Semco's speculated market capitalisation of nearby US$1bn, Maybulk's stake is valued at almost US$212.3m, lower than the value the company can reap from the put option.


Source: CIMB Daybreak - 30 July 2013
Share this
Labels: MAYBULK

Related Stocks

Chart Stock Name Last Change Volume 
MAYBULK 1.79 0.00 (0.00%) 962,300 

  Be the first to like this.
 


 

405  344  430  468 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 SCOMI 0.415+0.02 
 TALAMT 0.115-0.005 
 HHGROUP 0.56+0.11 
 MEXTER-WA 0.06-0.01 
 SUMATEC 0.40-0.005 
 NOVAMSC 0.135+0.025 
 MEXTER 0.14+0.015 
 MAS 0.22-0.005 
 HUBLINE 0.0450.00 
 JAG 0.405-0.005 

TOP ARTICLES

1. [转帖] 马股价高欠吸引力 18只瑰宝价廉物美 Good Articles to Share
2. A WORD FOR THE FUTURE STOCK TRADERS A WORD FOR THE FUTURE STOCK TRADERS
3. WORST PART OF ALL - YOU DID NOT REALIZE YOU WERE THE LOSER A WORD FOR THE FUTURE STOCK TRADERS
4. 大众包装盈利傲视同行 股海探温
5. Icon 岸外跌后价值重现 股海宝藏
Partners & Brokers