Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Otto Marine falls after rights issue

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STOCKS NEWS SINGAPORE-Otto Marine falls after rights issue Mar 28th 2012, 02:19 Tue Mar 27, 2012 10:19pm EDT Shares of Singapore's Otto Marine Ltd declined as much as 11.1 percent after the offshore marine firm proposed a rights issue to raise around S$75.6 million ($60 million). Otto Marine shares were down 9 percent at S$0.131 on volume of 13.7 million shares, 3.3 times the average full-day volume traded over the past 30 days. The stock was among the top five traded shares by volume. Otto Marine said on Wednesday it plans to issue up to 945.21 million rights shares at S$0.08 each on the basis of one rights share for every two existing shares. For a related story, click: 1010 (0210 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata.thomsonreuters.com) ****************************************************** 08:50 STOCKS NEWS SINGAPORE-Singapore index futures slip Singapore index futures fell 0.2 percent, indicating a weak start for the benchmark Straits Times Index. Asian shares drifted lower on Wednesday as investors waited for more clues on the state of the U.S. economy, after hopes for further stimulus from the U.S. Federal Reserve strengthened risk appetite and boosted prices the previous session. 0847 (0047 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata.thomsonreuters.com) ($1 = 1.2563 Singapore dollars) Link this Share this Digg this Email Reprints

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