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Mercator in the News
IPO by Subsidiary in Singapore
Singapore based subsidiary of the Company viz. Mercator Lines (Singapore) Ltd. has registered with Monetary Authority of Singapore (MAS) a prospectus with respect to its IPO of 270,191,126 shares by way of an international offering to investors, including institutional and other investors in Singapore and an offering to the public in Singapore including Shares reserved for the directors, management, employees and business associates.
Further, pursuant to exercise of rights by existing bond holders of Series ‘A’ Bonds aggregating US$ 35.0 million for conversion of such Bonds into new shares; the subsidiary is also issuing a minimum of 59,921,986 new Shares to the said bond holders separate from above offering.
The maximum offering price for each Offering Share will be S$0.94
The subsidiary proposes to price the offering at the close of trade on 11th December 2007.
The Shares will be listed on main board of Singapore Stock Exchange.
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