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Viking Offshore and Marine to raise $880,000 through private placement

Felicia Tan
Felicia Tan1/19/2022 8:42 AM GMT+08  • 1 min read
Viking Offshore and Marine to raise $880,000 through private placement
Shares in Viking Offshore and Marine closed at 8.9 cents on Jan 18.
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Viking Offshore and Marine is seeking to raise gross proceeds of $880,000 through the private placement of 10,987,143 new shares in a bid to raise funds and strengthen its financial and working capital position.

The company had, on Jan 18, entered into a placement agreement with Xiang Xiping to place the shares at an issue price of 8.01 cents apiece.

The issue price represents a discount of 8.58% to the volume weighted average price of 8.762 cents per share based on trades done on Jan 17.

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