Pacific Radiance Said to Start $100 Million Singapore Offering

Pacific Radiance Ltd., an owner and operator of offshore vessels, started an initial public offering in Singapore that may raise more than $100 million, said two people with knowledge of the matter.

The Singapore-based company began evaluating investor interest in the share sale last week, the people said, asking not to be identified as the process is private. The company plans to start trading next month, they said.

Pacific Radiance owns and operates 120 vessels that service oil and gas drilling and production units at sea, and has offices in Brazil, Mozambique and Indonesia, according to its website. Chairman Pang Yoke Min is the founder and former group managing director of Singapore-listed Jaya Holdings Ltd. (JAYA)

Officials at Pacific Radiance didn’t return a phone call or an e-mail seeking comment.

United Overseas Bank Ltd. (UOB), DBS Group Holdings Ltd. and Oversea-Chinese Banking Corp. are helping to manage the offer, the people said.

To contact the reporter on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.