However, aside from its marine and offshore unit, which is a direct competitor to Malaysia Marine, Keppel also has other businesses, such as infrastructure and property development as well as an investment unit. Both comps were trending higher while Malaysia Marine was on the road marketing its IPO. Aside from the institutional tranche, the company also sold 184 million shares under a Bumiputera offering targeted at native Malays, while 78 million shares were earmarked for retail investors at a discounted price of M$3.61 per share. It also issued 128 million shares to Technip -- a French company active within project management, engineering and construction for the oil and gas industry, and operations in 48 countries, including Malaysia. Coming in as a strategic investor, Technip paid a 2% premium to the M$3.80 IPO price and agreed to a three-year lockup. It will hold 8% of Malaysia Marine at the time of listing. Together, the different tranches accounted for 33.5% of the outstanding share capital.