Reuters: Hot Stocks: Singapore Hot Stocks-Swiber falls after share placement plan

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Singapore Hot Stocks-Swiber falls after share placement plan Mar 15th 2012, 01:16 SINGAPORE, March 15 | Wed Mar 14, 2012 9:16pm EDT SINGAPORE, March 15 (Reuters) - Shares of Singapore's Swiber Holdings Ltd fell as much as 6.4 percent on Thursday after the offshore services firm proposed a placement of up to 101.07 million shares at a steep discount to its last traded price. The placement at S$0.635 a share represented a 9.74 percent discount to the volume weighted average price of shares traded on Tuesday before a Wednesday suspension. Swiber shares were down 4.3 percent at S$0.675. It had earlier dropped to S$0.66, the lowest intra-day level since Feb 6. Swiber aims to raise net proceeds of around S$62.5 million ($49.3 million) to fund general working capital requirements. (Reporting by Eveline Danubrata; Editing by Kevin Lim)

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