SINGAPORE, April 8 PACC Offshore Services
Holdings (POSH)is looking to raise between $304 million and $334
million in a Singapore listing, according to a term sheet seen
POSH, which is part of the empire of Malaysia's richest man,
Robert Kuok, operates a fleet serving offshore oilfields in
Asia, Africa and Latin America.
The company is also reserving the right to issue additional
shares worth up to $46 million under a greenshoe option, meaning
the total amount raised could be as much as $380 million.
Bank of America Merrill Lynch, DBS Group Holdings Ltd
and Oversea-Chinese Banking Corp Ltd are the
joint issue managers, bookrunners and underwriters.
Hwang Investment Management Berhad and Fortress Capital
Asset Management are cornerstone investors in the deal.
(Reporting by Saeed Azhar; Writing by Rachel Armstrong; Editing
by Edwina Gibbs)