Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

DSME mulls European listing

DSME mulls European listing

Seoul: South Korea's Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipbuilder by order backlog, has told Dow Jones it may seek an initial public offering for its Romanian shipyard in Romania or London.
"If our Romanian shipyard, Daewoo Mangalia Heavy Industries SA, meets local requirements for an IPO in the Romanian stock market, we will proceed with the IPO plan in Romania," said An Wook-Hyeon, a company spokesman.
He said an IPO in London is another option.
" Daewoo Mangalia Heavy, which shifted to profit in the second half of last year, is expected to post profits for the whole of this year to satisfy the IPO requirements," he said, without providing financial figures for the yard.
Daewoo Shipbuilding owns a 51% stake in Daewoo Mangalia Heavy, the Korean company's only overseas shipyard. This past weekend DSME opened a $100m block building site in Yantai, China. [21/06/07]


Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish