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Published December 19, 2012
Ezion issuing shares to EDB unit to raise $19m
The new shares represent 1.61% of Ezion's share capital
By
Lee Meixian
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Ms Chu: Says Ezion's capabilities will further enhance Singapore's leadership in M&O sector - PHOTO: LIM WUI LIANG / THE STRAITS TIMES
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<!-- end of media lightbox //-->EZION Holdings Ltd will be raising net proceeds of some $18.9 million to pursue growth by issuing new shares to a unit of Singapore's Economic Development Board (EDB).
The offshore oil and gas player jumped 3.3 per cent on the stock market yesterday to close at a 52-week high of $1.555 following the news.
In filings to Singapore Exchange (SGX), Ezion said that EDB Investments Pte Ltd (EDBI) will subscribe for about 14.3 million new ordinary shares in the company at $1.3315 apiece, investing around $19 million in all.
The issue price carries a 10 per cent discount to the volume-weighted average price (VWAP) of $1.4794 for trades in Ezion shares on SGX last Friday. The new subscription shares represent about 1.61 per cent of Ezion's existing share capital.
Ezion issuing shares to EDB unit to raise $19m
The new shares represent 1.61% of Ezion's share capital
By
Lee Meixian
print |email this article
<!-- end of header //-->
Ms Chu: Says Ezion's capabilities will further enhance Singapore's leadership in M&O sector - PHOTO: LIM WUI LIANG / THE STRAITS TIMES
<!-- /.view -->
<!-- end of media lightbox //-->EZION Holdings Ltd will be raising net proceeds of some $18.9 million to pursue growth by issuing new shares to a unit of Singapore's Economic Development Board (EDB).
The offshore oil and gas player jumped 3.3 per cent on the stock market yesterday to close at a 52-week high of $1.555 following the news.
In filings to Singapore Exchange (SGX), Ezion said that EDB Investments Pte Ltd (EDBI) will subscribe for about 14.3 million new ordinary shares in the company at $1.3315 apiece, investing around $19 million in all.
The issue price carries a 10 per cent discount to the volume-weighted average price (VWAP) of $1.4794 for trades in Ezion shares on SGX last Friday. The new subscription shares represent about 1.61 per cent of Ezion's existing share capital.
