Seatrium left with S$300 million net proceeds from S$1.5 billion rights issue in 2021

SEATRIUM on Friday (Sep 8) said it has a balance of S$300 million in net proceeds from its rights issue back in 2021, after the latest use of S$100 million for the repayment of a loan facility. 

The rights issue had raised some S$1.5 billion in net proceeds for the offshore and marine group. 

The company said the latest utilisation of the proceeds is in accordance with the intended use of net proceeds. 

Seatrium added that it will continue to make periodic announcements on the use of the net proceeds as and when they are materially disbursed. 

Shares of Seatrium fell 0.7 per cent or S$0.001 to close at S$0.14 on Friday.