Singapore Stock Market News

PACC Offshore Services Holdings - Bulk share disposal by major shareholder to create overhang on POSH

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Publish date: Wed, 04 Apr 2018, 04:46 PM
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■ Malaysian Bulk Carriers Berhad (MBC) is proposing to dispose of its 21.23% stake in POSH via a share offering to its existing shareholders

■ Indicative offer price based on a 15-30% discount to prevailing market price; to be an overhang on POSH

■ Silver lining: POSH's free float could increase to around 29.4%, from the current 18.47%

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