shipbuilding

The Chinese shipbuilder becomes the first company to have its shares trade in renminbi in Singapore, making use of the exchange’s dual-currency platform.

Amid a tough environment for the shipbuilding industry, Guangzhou Shipyard plans to use part of the proceeds to buy another shipbuilder.

Temasek raises $261 million from the sale of its entire direct stake in the Singapore rig and shipbuilding company at a tight discount, prompting a sell-off in the stock.

As the first major block trade in Asia, the deal sends a positive message about investor appetite to other potential sellers, although investors are expected to stay selective as the market environment remains uncertain.

The Chinese shipbuilder raises $1.8 billion after pricing in the lower half of the range, while manganese producer Citic Dameng sells $266 million worth of shares in a deal popular with both institutions and retail investors.

If successful, Rongsheng’s transaction will be one of the largest IPOs in Hong Kong this year.

The Chinese shipbuilder raises $141 million from the sale of Taiwan depositary receipts and sends its Singapore-listed shares soaring.

The decision not to go ahead is made after the deal had already been downsized, but sources say the offering was fully covered and the cancellation is not due to market conditions.

New Century Shipbuilding, which focuses on the bulk and tanker segments, is coming to market at a time when many analysts believe the worst is over for the shipping sector.