Seoul: STX Europe will drag in $400m from the listing of its offshore and specialized vessels division, it is claimed. ?Europe's largest shipbuilder is set to go public with details of the IPO on Monday before kicking off a two week road show, Reuters says.
STX Europe first revealed plans to float its most profitable unit last month after receiving an "eligibility to list" letter. ?An IPO for STX Europe, or one of its divisions, has been talked about since STX of South Korea took over Aker Yards in mid 2008 and removed it from the Oslo Stock Exchange. ?A European stock exchange, most likely Oslo, was previously considered the most probable choice. ?European debt issues promoted Singapore to the head of the line. [15/10/10]
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