POSH launches IPO, eyes offshore accommodation sector

Singapore: Robert Kuok controlled PACC Offshore Services Holdings (POSH), the OSV giant with 112 vessels in operation and another 15 vessels on order, has today launched its IPO on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST). The company has plans to expand into the deepwater offshore accommodation sector.

Seow Kang Hoe, ceo of POSH, said, “Our strong parentage and the commitment of our highly-experienced management team have built POSH into the largest Asia-based international operator of offshore support vessels and amongst the top five players globally.

“We are therefore well-positioned to capture market opportunities across all our business segments, maintaining our growth momentum and, in particular, expand into the deepwater offshore accommodation segment.”  [17/04/14]