(Corrects name in headline to Fortress from Fortis)
SINGAPORE, April 7 PACC Offshore Services
Holdings (POSH), part of the empire of Malaysia's richest man
Robert Kuok, has roped in Hwang Investment Management Berhad and
Fortress Capital Asset Management as cornerstone investors for
its Singapore listing, which sources close to the matter said
could raise about $400 million.
The two cornerstone investors would take up 85.6 million
shares, according to the company's preliminary prospectus.
POSH operates a fleet serving offshore oilfields in Asia,
Africa and Latin America.
Singapore is home to the world's two biggest rig builders,
Keppel Corp Ltd and Sembcorp Marine Ltd, as
well as smaller oil services companies such as Ezion Holdings
The sources declined to be identified because the
information has not been made public.
Bank of America Merrill Lynch, DBS Group Holdings Ltd
and Oversea-Chinese Banking Corp Ltd are
joint issue managers, bookrunners and underwriters.
(Reporting by Saeed Azhar; Editing by Mark Potter)