The company, which controls a fleet of over 100 offshorevessels, has received conditional eligibility from the SGX to pursue a listing,according to a major shareholder.
Kuala Lumpur-listed Malaysian Bulk Carriers (Maybulk) currentlyowns 21.23% of the equity in POSH which it bought from Robert Kuok owned parent company PacificCarriers in 2008.
The proposed IPO will see its holding diluted to 17% howeverMaybulk intends to subscribe for new shares to maintain its holding at 20%.
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