STX OSV Holdings, the offshore vessel building arm of STX Group, plans to raise $257.26 million in an initial public offering in Singapore as rising energy use spurs demand for its oil-rig support vessels.
The shipyard will sell 180 million new and 145.646 million existing shares, according to a document lodged with the Monetary Authority of Singapore today. The shares will start trading on a ‘ready’ basis on Nov. 12.