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Kreuz Holdings IPO oversubscribed

Kreuz Holdings IPO oversubscribed

Singapore: The Singapore initial public offering by subsea solutions provider Kruez Holdings was 5.7 times oversubscribed. The subsea solutions unit of Swiber Holdings received applications for 426m shares for its offering of 80m shares. The listing on Singapore's second board Catalist raised S$19.2m for Kruez. "This marks the beginning of a new phase for Kreuz Holdings. We plan to expand our range of services through the acquisition of new operating assets," said Kurush Contractor, executive director and ceo of Kreuz. [29/07/10]

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