Icon Offshore raises RM247m from rights issue


Icon managing director Datuk Seri Hadian Hashim said the rights issue was an important element of its debt restructuring exercise, which woul enable Icon to complete the overall debt restructuring exercise before the end of its first quarter this year.

KUALA LUMPUR: Icon Offshore Bhd, an owner and operator of one of the largest fleet of offshore support vessels (OSV), raised RM247.21mil from its rights issue which was part of its debt restructuring exercise and provided the funds for its future growth.

The company announced on Thursday the rights issue was oversubscribed by 19.87% of the maximum intended gross proceeds of RM247.21mil and by 61.93% of the minimum intended gross proceeds of RM183mil.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Jeff Bezos says most people should take more risks. Here’s the science that proves he’s right
Malaysia continues to lead regional data centre index
IFC, consortium commit over US$900mil in financing to data centre in Malaysia
Foreign investors offload RM1.07bil on Bursa Malaysia for ninth week running
Bursa Malaysia confirms CEO succession process amid speculation
KLCC Property denies Bandar Malaysia takeover
Bursa Malaysia gains on bargain hunting amid cautious sentiment
Ringgit rises against US dollar as DXY declines
Bandar Malaysia's theme park project cancelled
Trading ideas: Top Glove, LKL International, Kawan Renergy, Edelteq, Catcha Digital, MAHB

Others Also Read