Singapore's Ezra raises $96 million at 9.1% discount

The offshore and subsea oil and gas contractor receives strong demand for the offering, allowing it to exercise the upsize option in full.
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Although it operates in a capital-intensive industry, Ezra is an infrequent issuer
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<div style="text-align: left;"> Although it operates in a capital-intensive industry, Ezra is an infrequent issuer </div>

Singapore-listed Ezra Holdings has raised S$121 million $96 million from a top-up placement that will give it the capital resources to seek and carry out more contracts in the offshore and subsea oil and gas sector, where rising oil prices has led to a pickup in demand.

The company’s subsea services arm currently has a global tender book of approximately $4 billion and according to a statement by Ezra’s managing director, Lionel Lee, on Friday, the company is confident of winning a significant portion of these projects.

The deal was launched at around 2pm on Friday after the stock was suspended from trading and was fully covered,...

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