Triyards has been granted a conditional eligibility to list on the exchange. Ezra proposes to distribute 33% of Triyards' issued ordinary shares, or up to 107.2m ordinary shares, on the basis of one Triyards share for every 10 Ezra shares.
“The proposed listing of Triyards shows Ezra's confidence in our established track record in shipbuilding, offshore platform and subsea module fabrication to take
advantage of new opportunities out there,” said Lionel Lee, managing director of Ezra.
“It will also allow Ezra to continue its focus on its subsea and offshore support services divisions, and still benefit from the growth and geographical expansion of the Triyards Group via the Ezra Group's majority 67% share in Triyards after the proposed distribution and the proposed introduction.”
Triyards has two yard facilities in Vietnam and one in the US. It intends to add the fabrication of other specialised and sophisticated offshore units, as well as platforms and a growing range of marine equipment to its list of achievements.
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