Shipping tycoon Robert Kuok's Malaysian Bulk Carriers (MBC) is offloading its 21.23% stake in Singapore-listed OSV owner PACC Offshore Services Holdings (POSH).
MBC shareholders are being offered the stock on a pro-rata basis as the bulker owner seeks cash.
Kuok Group companies own about 81%.5 of POSH, including the MBC holding, so that stake will be cut to a minimum of 60.07%.
