KUALA LUMPUR: MISC BHD [] has yet to seek shareholder approval for the listing of its engineering arm Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) and therefore has not decided on pricing for its initial public offering (IPO).
Speaking to reporters after MISC's 41st AGM here on Thursday, Aug 19, president and CEO Datuk Nasarudin Md Idris said they hoped to launch a prospectus by the end of October this year.
The plans for listing the unit was announced in July this year as plans for MISC to unlock the value in MMHE.
On the outlook for the shipping industry as a whole, Nasarudin said he expected it to remain volatile, although MISC could expect stable business from its offshore business and MMHE.
MISC is expected to release its 1Q11 results this evening.
Speaking to reporters after MISC's 41st AGM here on Thursday, Aug 19, president and CEO Datuk Nasarudin Md Idris said they hoped to launch a prospectus by the end of October this year.
The plans for listing the unit was announced in July this year as plans for MISC to unlock the value in MMHE.
On the outlook for the shipping industry as a whole, Nasarudin said he expected it to remain volatile, although MISC could expect stable business from its offshore business and MMHE.
MISC is expected to release its 1Q11 results this evening.
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