Ezion raising $194m from share placement

TWO companies linked to Malaysian tycoon Quek Leng Chan are pumping a total of $194 million into Ezion Holdings through share subscriptions for a combined 7.7 per cent stake in the enlarged capital of the liftboat developer and offshore logistics support service provider.

Ezion said yesterday that Asia Fountain Investment Company Limited and GuoLine Capital Limited are each subscribing for half of 100 million shares at $1.94 apiece.

The price represents an 8.9 per cent discount to the closing price of $2.13 for trades done on April 15, said Ezion.