The Singapore-listed group agreed earlier this year to buy 51% of Scibois, a company owning 75% of the rights to the $3bn scheme until 2036.
JES is using its stock to fund the deal, which it says is the company’s latest shield from the cyclical nature of shipbuilding.
It transferred 120.8m of its shares to seller Yang Shushan in July in exchange for 20% of Scibois, which constituted the first part of the deal.
