ASL Marine (SGX:A04) completed the placement of 41.1 million shares, raising around SG$7 million at SG$0.1703 apiece, according to a Friday filing with the Singapore Exchange.
The placement is part of the marine services provider's strategy to improve its trading liquidity.
The new shares are expected to be listed and quoted on Oct. 13, with trading to commence on the same day.
Shares of the company were down over 4% at the close of trading on Friday.
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