O&M firm Gaylin sold shares at 50% discount for S$68m

Singapore

MAINBOARD-LISTED offshore and marine company Gaylin Holdings is placing a 75.64 per cent stake in itself to a private equity fund at a discount of nearly 50 per cent of its current stock price. (see clarification note)

It will use the proceeds of about S$68 million for general working purposes and to strengthen its capital base.