Transocean to raise RM3m via private placement for logistics services segment capex

Transocean to raise RM3m via private placement for logistics services segment capex
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KUALA LUMPUR (April 15): Logistics company Transocean Holdings Bhd plans to raise RM3.12 million via a private placement of 4.1 million new shares – equivalent to 10% of its issued share capital – to fund the capital expenditure of its logistics service segment.

The shares will be issued at an indicative price of 76 sen a share, the group said in a bourse filing.

Transocean said the money raised will be used to purchase prime movers and trailers for its haulage operations and equipment including container stackers for a container depot.

The group’s share capital will increase to 45.1 million shares, from 41 million shares currently, upon completion of the exercise in the second quarter of 2021, it added.

Yesterday, Transocean  announced it will be acquiring a 40% stake in Enfrasys Solutions Sdn Bhd from Enfrasys Consulting Sdn Bhd for RM20 million, via the issuance of 20 million new shares in Transocean at RM1 apiece.

Transocean shares hit limit up after rising as much as 30 sen or 34.09% to settle at RM1.18 in early trade today. It was the top percentage gainer on the local bourse. Its market capitalisation stood at RM48.39 million. The counter saw 2.58 million shares traded.

S Kanagaraju