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Pacific Radiance backs rights issue by Indonesian associate

Jakarta-listed Logindo Samudramakmur to issue up to about 1.63 billion new shares

Published Tue, Jan 24, 2017 · 09:50 PM
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Singapore

SINGAPORE-listed offshore support vessel (OSV) owner-operator, Pacific Radiance, is throwing its support behind an upcoming rights issue to raise cash for its Jakarta-listed associate, Logindo Samudramakmur.

Pacific Radiance has voted in support, as a 34.3 per cent shareholder at an extraordinary general meeting (EGM), for the issuance of up to about 1.63 billion new shares by its Indonesian associate.

Logindo said that a letter detailing the outcome of t…

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