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Shares in Viking Offshore & Marine plunge 10.2% after rights cum warrants issue announcement and proposed name change

Felicia Tan
Felicia Tan3/28/2022 09:32 AM GMT+08  • 6 min read
Shares in Viking Offshore & Marine plunge 10.2% after rights cum warrants issue announcement and proposed name change
As at 9.39am, shares in Viking & Offshore Marine are trading 1 cent lower or 10.204% down at 8.8 cents.
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Shares in Viking Offshore & Marine plunged 10.204% to 8.8 cents at market open on March 28 after the company made several announcements including its name change and proposed diversification of its existing core business. The company has also announced its intention to raise funds via a rights cum warrants issue and proposed placement on the same day.

Renounceable non-underwritten rights cum warrants issue

Viking Offshore & Marine, on the morning of March 28, has proposed a renounceable non-underwritten rights cum warrants issue of up to 140.57 million new ordinary shares in the company at 2.5 cents apiece.

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