Ezion Holdings, the Singapore liftboat developer and operator, announced that Asia Fountain Investment Company, an indirect wholly-owned subsidiary of Guoco Group and GuoLine Capital, an indirect wholly owned subsidiary of Hong Leong Company (Malaysia) Berhad, has subscribed to 100 million new shares of the company for US$155 million ($194 million).
Chew Thiam Keng, Group CEO of Ezion, says: “We are most happy to have the privilege of working with Tan Sri Quek Leng Chan, an esteemed and most well regarded global investor. On behalf of the Board and management of Ezion, I warmly welcome his investment. This investment will allow Ezion to leverage on our new shareholders’ extensive network of resources and vast experience, in particular in Asia, and to further expand our business in the vibrant offshore Oil and Gas industry. We also believe that the proceeds received from this investment will allow us to better position ourselves to meet the strong demand of clients for our product and services, balance our capital structure and allow us to keep up with the growth without having to raise further equity for at least the next 12 months based on current business prospects."
Credit Suisse acted as sole arranger for the proposed subscription.
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