New Century Shipbuilding has more than halved its IPO as a result of the impact of the eurozone crisis.
The Chinese shipyard had planned to launch an offering on the Singapore exchange of 1.46 billion shares, about 30 percent of the group's enlarged equity pool. It had aimed to raise up to US$1.2 billion to fund the construction of facilities to build offshore vessels.
New Century said last week that it would sell 560 million shares at US$1.19 per share to raise US$666.4 million.
