Varun Shipping postpones Singapore SE listing
Mumbai: Varun Shipping has postponed its plans to list on the Singapore Stock Exchange due to the high volatility being seen in markets worldwide since May 2006 and no signs of stability emerging as of now.

Varun Shipping had gone so far as to file a draft prospectus with the Monetary Authority of Singapore for the proposed issue of Singapore depository shares.

The company plans a $400 million fleet expansion for which it wants to raise funds by listing on the Singapore Stock Exchange. Company officials said the company has completed raising capital for its phase 1 development plan through private placements.
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