SINGAPORE: Singapore-listed Ezion Holdings Ltd, which supplies support vessels for offshore oil fields, said it planned to sell shares to two firms in Malaysia’s Hong Leong Group, raising US$155mil (RM508.4mil) to help expand its fleet.
The capital raising follows news this month of an up to US$380mil planned initial public offering (IPO) in Singapore by PACC Offshore Services Holdings (POSH), an operator of maritime support vessels controlled by Malaysia’s richest man Robert Kuok.
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