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Wednesday, 14 March 2012

Swiber raising up to S$66.2 mln via placement

SINGAPORE - Singapore offshore services firm Swiber Holdings has launched a share placement to raise up to S$66.2 million (US$52.5 million), IFR reported on Wednesday.

The company is offering 80 million shares at S$0.635-S$0.655 each, with an option to increase this by up to 21.071 million shares, according to a term sheet obtained by IFR. This works out to discounts of 7.09 per cent to 9.93 per cent to the last close.

The size of the offering is equivalent to 15.8 per cent of the existing company capital, or 20.0 per cent, if the deal is fully enlarged, IFR, a unit of Thomson Reuters said. Religare Capital Markets is the sole bookrunner for the deal.

Swiber requested a trading halt in its before the market opened on Wednesday. -- REUTERS



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