Monday, December 13, 2010


Unlike the IPO guru lurking in the forum of SI by the name of Palawan, I would have to say that I got it wrong with STX OSV. Since listing on the Singapore stock exchange earlier last month, while wobbling initially, it has gained 25 percent on the back of positive announcements such as contract wins.

Shortly after listing, it announced that it won contracts for the manufacture of 4 PSVs, Rolls-Royce design, worth a total of NOK1.3billion. It has also announced that it won a contract for one PSV under its on in house design.

Interestingly, Goldman Sachs bought close to 9 million shares as part of a stabilization exercise at prices raning from 78 to 79 cents.

STX OSV's third quarter results are posted on SGX website and it can be read for those interested here

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