South Korea's STX Group is considering selling an additional 20 percent stake in Singapore-listed shipbuilder STX OSV , worth around 260 billion Korean won ($240.5 million) in May or June, the company said on Friday, Reuters reports.
An STX Group spokesman said the method of the stake sale had not yet been decided.
In a bid to improve its financial structure, the spokesman added that the company planned initial public offerings for its China shipyard and cruise ship making divisions next year.
The stake sale and IPO plans by STX, which floated a 31 percent stake in STX OSV last year, comes amid growth prospects for ship orders, buffeted by the global financial crisis.
China's Rongsheng Heavy Industries Group raised $1.8 billion through a Hong Kong IPO in November.
The size of the Dalian shipyard IPO, which is likely to be in Hong Kong, is expected to be around the same as Rongsheng's offering, the spokesman said.
An STX Group spokesman said the method of the stake sale had not yet been decided.
In a bid to improve its financial structure, the spokesman added that the company planned initial public offerings for its China shipyard and cruise ship making divisions next year.
The stake sale and IPO plans by STX, which floated a 31 percent stake in STX OSV last year, comes amid growth prospects for ship orders, buffeted by the global financial crisis.
China's Rongsheng Heavy Industries Group raised $1.8 billion through a Hong Kong IPO in November.
The size of the Dalian shipyard IPO, which is likely to be in Hong Kong, is expected to be around the same as Rongsheng's offering, the spokesman said.