Singapore subsea services provider Kreuz Holdings is selling new shares and two existing shareholders are selling shares for up to $34.5 million in a placement, according to a term sheet seen by Reuters.
Offshore services firm Swiber Holdings will sell 33 million of its shares in Kreuz, while Kurush Contractor will sell 17 million of its shares at between $0.34 and $0.345, the term sheet said.
Offshore services firm Swiber Holdings will sell 33 million of its shares in Kreuz, while Kurush Contractor will sell 17 million of its shares at between $0.34 and $0.345, the term sheet said.
The placement will have an upsize portion of 30 million secondary shares, it said.
DBS Bank and Religare Capital Markets are the joint placement agent.
Kreuz and Swiber both halted their shares from trading.
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