SEOUL, April 22 |
SEOUL, April 22 (Reuters) – South Korea’s STX Group is
considering selling an additional 20 percent stake in
Singapore-listed shipbuilder STX OSV , worth around 260
billion Korean won ($240.5 million) in May or June, the company
said on Friday.
An STX Group spokesman said the method of the stake sale had
not yet been decided.
In a bid to improve its financial structure, the spokesman
added that the company planned initial public offerings for its
China shipyard and cruise ship making divisions next year.
The stake sale and IPO plans by STX, which floated a 31
percent stake in STX OSV last year, comes amid growth prospects
for ship orders, buffeted by the global financial crisis.
China’s Rongsheng Heavy Industries Group raised $1.8 billion
through a Hong Kong IPO in November. [ID:nTOE6AB045]
The size of the Dalian shipyard IPO, which is likely to be
in Hong Kong, is expected to be around the same as Rongsheng’s
offering, the spokesman said.
($1 = 1080.950 Korean Won)
(Reporting by Ju-min Park; Editing by Jonathan Hopfner)