Shares of Singapore offshore marine services provider Kreuz Holdings fell 8% in heavy volume, hitting a three-week low after a placement of its shares at a discount.
Kreuz shares declined to $0.345, with nearly 79 million shares traded, 48 times the average full-day volume traded in the last 30 days. Kreuz was the top traded stock by volume.
The company on Thursday announced the placement of 50 million new shares and 20 million vendors shares at $0.34 each. The money raised from the new shares would go towards capital expenditure.
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