Yangzijiang Shipbuilding plans to raise up to SGD 209m ($153.8m) from the sale of 137m shares by way of a private placement.
US investment bank JP Morgan has been nominated as the placing agent for the transaction which is being targeted at institutional investors.
The shares have been priced at SGD 1.53 each which is just over a 4% discount on the closing price of the shares prior to the announcement.
