February 2007
Yangzijiang Shipbuilding Holdings Ltd (“Yangzijiang”), one of the leading shipbuilders in the PRC, producing a broad range of vessels including commercial craft, bulk carriers and chemical tankers launched its initial public offering (“IPO”) of 1142.2 million shares (including the exercise of Over-allotment option) at S$0.95 each, in conjunction with its listing on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”). UBS Investment Bank Ltd is the Lead Manager, Underwriter and Placement Agent for the IPO. At an issue price of S$0.95 per share, Yangzijiang is priced at a historical price earnings ratio of about 27 times, based on the Group’s historical net earnings per share of 3.5 Singapore cents for FY2006.
About SEAVI Advent
SEAVI Advent is the exclusive Asia affiliate of Advent International, a global private equity fund with over US$10 billion under management. SEAVI Advent has been in partnership with Advent International since 1984. SEAVI Advent is now actively investing its regional Fund IV program which focuses its capital investing in high-growth late-stage companies and middle market buyout situations. SEAVI Advent has regional offices in Singapore, Shanghai, Beijing and Hong Kong.
About Yangzijiang Shipbuilding
Yangzijiang is one of the leading shipbuilders in the PRC, producing a broad range of commercial vessels, mini bulk carriers, multi-purpose cargo vessels, containerships, chemical tankers, offshore supply vessels, rescue and salvage vessels and lifting vessels. An existing yard is located in Jiangyin City in the Jiangsu province of the PRC and spans approximately 719m of deep-water coastline and covers an area of approximately 200,000sqm (excluding the coastal area). The new shipyard, currently under construction, is located within the Jiangyin Economic Development District of Jingjiang City in the Jiangsu province of the PRC, on the northern bank of the Yangtze River upstream from the Jiangyin Changjiang Bridge. Upon completion, the new yard will have access to an area of approximately 793,000sqm. In addition, it will be equipped with a dry dock that will be approximately 440m long and 96m wide and capable of accommodating two 100,000DWT vessels.
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