Reuters: Hot Stocks: Singapore's Swiber raising up to S$66.2 mln via placement-IFR

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Singapore's Swiber raising up to S$66.2 mln via placement-IFR Mar 14th 2012, 03:34 SINGAPORE, March 14 | Tue Mar 13, 2012 11:34pm EDT SINGAPORE, March 14 (Reuters) - Singapore offshore services firm Swiber Holdings has launched a share placement to raise up to S$66.2 million ($52.5 million), IFR reported on Wednesday. The company is offering 80 million shares at S$0.635-S$0.655 each, with an option to increase this by up to 21.071 million shares, according to a term sheet obtained by IFR. This works out to discounts of 7.09 percent to 9.93 percent to the last close. The size of the offering is equivalent to 15.8 percent of the existing company capital, or 20.0 percent, if the deal is fully enlarged, IFR, a unit of Thomson Reuters said. Religare Capital Markets is the sole bookrunner for the deal. Swiber requested a trading halt in its before the market opened on Wednesday. (Reporting by Daniel Stanton; Editing by Anshuman Daga)

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