Beng Kuang Marine has issued 52,500 new ordinary shares at a price of 22 cents per warrant share as part of its exercise of warrants.

The number of issued shares of the company has increased from 207,240,473 shares to 207,292,973 shares. The new ordinary shares rank pari passu in all respects with the existing shares of the company and are expected to be listed and quoted on the SGX on July 21.

There are currently 59,707,610 outstanding warrants with an exercise price of 22 cents per share for each warrant share expiring on Sept 3, 2027.

Shares in Beng Kuang Marine closed 0.5 cents lower or 2.128% down at 23 cents on July 17.