Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
HomeMaritime NewsRegionsAsiaSapuraKencana to raise $526m to fund Seadrill acquisition

SapuraKencana to raise $526m to fund Seadrill acquisition

SapuraKencana to raise $526m to fund Seadrill acquisition
Kuala Lumpur: Malaysia's SapuraKencana Petroleum is forging ahead with its expansion plans, raising MYR1.64bn ($526.2m) via a private placement of 587 million new shares to help finance its acquisition of Norway's Seadrill's tender-rig operations.

SapuraKencana said in a statement that out of the funds raised, about MYR1.52bn will be used to finance the Seadrill acquisition while the remaining portion will be used to defray the expenses relating to the corporate exercise.


A placement agreement has been signed with CIMB Investment Bank Bhd, Maybank Investment Bank Bhd and CIMB Securities (Singapore) Pte Ltd for the proposed placement.

TAGS: Finance & Insurance Offshore
Related
GSBN container
MSC works with GSBN to boost lithium battery shipments safety
Apr 25, 2024
Stacked containers in port of Los Angeles
Mixed signals on container freight rates as Red Sea alarm subsides
Apr 24, 2024
Hengli newbuild bulker
Hengli bags four bulkers from Ciner Shipping
Apr 24, 2024
Smoke from ship funnel
Carbon emissions rocket as ships reroute from Red Sea to Cape
Apr 24, 2024