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Marine firm Kim Heng raising $36.4m via IPO

Shares on offer at 25¢, funds to be used for expansion and working capital
Thursday, January 16, 2014 - 06:00
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Mr Tan: The company's previous listing attempts - including obtaining approval in 2009 - were postponed as the 'timing was not right' for reasons such as the Lehman Brothers crisis. - ST FILE PHOTO

SINGAPORE-BASED Kim Heng Offshore & Marine Holdings, which has a track record of more than 40 years, has launched its initial public offering to raise net proceeds of $36.4 million to help fund its expansion plans. The Catalist IPO is $43.5 million in size, with 174 million shares - 160