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

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,...