Chinese shipbuilder kicks off $1 billion Singapore IPO

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.

New Century Shipbuilding yesterday kicked off the roadshow for an initial public offering that is aiming to raise between S$1.43 billion and S$1.74 billion $1.04 billion to $1.27 billion. At that size, this will be the largest IPO in Singapore since CapitaMalls Asia's $1.78 billion float in November last year.

China-based New Century has chosen to list in Singapore, not only because it is a shipping hub that is used by many of its customers, but also because...

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