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Ezion secures strategic investment from Temasek-linked Pavilion Capital
Deal could raise up to S$50m of gross proceeds, but group still needs to deliver the required cash flows to pare debts, says analyst
Add BT as a preferred sourcePublished Fri, Apr 6, 2018 · 09:50 PM
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Singapore
OFFSHORE and marine (O&M) group Ezion Holdings could raise up to S$50 million through a placement of shares and options to its first strategic investor in this prolonged industry downturn.
On Wednesday, Temasek-linked Pavilion Capital Fund Holdings (Pavilion) agreed to take a 4.43 per cent stake in Ezion by buying 96.2 million shares at 20.8 Singapore cents apiece, or S$20 million in total. Net proceeds from the share placement will be about S$19.6 million.
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