STX Europe Considering Listing Its Offshore and Specialized Vessels Division in Singapore

STX Europe AS is considering a listing (the “Listing”) of its offshore and specialized vessels division (“OSV”) on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”).

Prior to the Listing, STX Europe AS will transfer ownership in the entities forming part of OSV to a wholly-owned Singapore subsidiary – STX OSV Holdings Pte. Ltd. (to be renamed STX OSV Holdings Limited) (“STX OSV”). STX OSV has received an “Eligibility to List” letter from the SGX-ST for the Listing. Further announcement will be released if and when there are any material developments in relation to the potential listing.

STX Europe is an international shipbuilding group which aims to be the leading builder of cruise, ferry and offshore vessels. The group has a strong position in terms of developing state-of-the-art concepts, technology, processes and products for customers around the world. STX Europe comprises 15 shipyards in Finland, France, Norway, Romania, Brazil and Vietnam. STX Europe has approx. 15 200 employees.

STX Europe AS is a fully owned subsidiary of the STX Business Group in Korea. STX Business Group aims to be a global top player in its core business areas- shipping and trade, shipbuilding and machineries, plant and construction, and energy