Mystery uncovers for Vallianz’s trading halt. It
announced on 17 Jun that it plans to raise S$52.2
(US$41.83) million by issuing 400 million new
placement and subscription shares.
- 230mil placement shares – UOB
Kay Hian, Tata Capital and Religare Capital Markets (SG)
- 170mil subscription shares – Legend Financial Limited, Golden
Summit International Limited, Zymmetry Investments Ltd, ICH Partners Limited
and ICH Invest & Trade Ltd.
Shares will be issued at S$0.13545
apiece – a 10% discount to the weighted
ave. price of S$0.1505 a share prior to trading
halt last Thursday. After
deducting expenses of S$2mil, S$52.2mil will be raised. 70-80% of proceeds will
be used mainly to expand its fleet, and the remainder for general working
capital will increase from 2,123,578,789 to 2,523,578,789
shares i.e. 15.85% of the enlarged issued share capital of the
Company. Refer announcement here.
share placement exercise is in line with what was mentioned in my previous post quoted “Vallianz expansion of its fleet will come from
potential for issuance of additional shares either via new events or
conversion of existing share options.”
- Dec 13: Established a US$500 million
Multicurrency Islamic Trust Certificates Issuance Programme.
- Feb 14: – Completed issuance of US$35.2
million RCCS and US$22.0 million options to strategic equity investors. Rawabi
subscribed all options while Swiber subscribe US$12 million of the US$22.0million.
- Apr 14: S$100 million 7.20% Fixed Rate Notes Due 2016 Issued Pursuant To
The S$500 million Multicurrency Debt Issuance Programme
- May 14: S$60 million 7.25% Fixed Rate Notes Due 2016 Issued Pursuant To The S$500 million Multicurrency Debt Issuance Programme
- Jun 17: Share placement raising S$52 million.