POSH secures cornerstone investors
They will take up 85.6m shares in planned S'pore IPO
SINGAPORE-based PACC Offshore Services Holdings (POSH) has roped in Fortress Capital Asset Management and Hwang Investment Management as cornerstone investors for its planned Singapore listing.
POSH, part of Malaysian billionaire Robert Kuok's business empire, is an offshore services firm that is 21.2 per cent owned by Malaysian Bulk Carriers (Maybulk).
Mr Kuok is Malaysia's richest person with an estimated net worth of US$12.5 billion. This listing on the Singapore Exchange is poised to be the first major IPO of 2014 in Singapore.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Apple nears deal with OpenAI to put ChatGPT on iPhone
Why companies are nervous about the consumer
Apple says no major app developers accept new outside payments
Shein steps up London IPO preparations amid US hurdles to listing, sources say
Apple scores win in labor case involving fired retail workers
US: Stocks closes up another weekly gain ahead of inflation data