Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Goldman Sachs as the sole bookrunner in the approximately US$200 million IPO of STX OSV Holdings Limited (STX OSV) on the Main Board of the Singapore Exchange Securities Trading Limited.
STX OSV is a wholly-owned subsidiary of the STX Group of Korea and a major global designer and Norway-based shipbuilder of offshore and specialized vessels used in the offshore oil and gas exploration and production and oil services industries. Nordea Bank and The Royal Bank of Scotland acted as Joint Lead Manager and Co-Lead Manager respectively.
Daniel Kim, a partner in the global capital markets practice of Paul Hastings in Hong Kong, commented: “We are delighted to have advised Goldman Sachs on this successful IPO. The transaction is particularly significant as it involves a Korean conglomerate’s foreign subsidiary listing overseas. This as an important emerging trend as Korean conglomerates rapidly grow overseas and we expect to see similar transactions in the future with foreign subsidiaries located in Europe or China doing IPOs on international exchanges, such as Singapore and Hong Kong, which may be more liquid or otherwise more attractive markets for these companies.”
The Paul Hastings team was led by partner Daniel Kim and associate Woojae Kim and included partners Steve Winegar, Kristen Winckler, of counsel Wendell Faria and associates Dongho Lee, Charles Kim and Yeon Jin Seong.
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