Singapore: Vallianz Holdings has announced that it has completed the issuance of redeemable convertible capital securities to Rawabi for a principal amount of $35.2m, in conjunction with the issuance of non-transferable share options to Swiber, which will raise potential total gross proceeds of $22m when fully exercised. The full exercise of the option and issuance of the capital securities will boost Vallianz’s equity by $57.2m.
“This is a corporate milestone for the company as it takes our business relationship with key stakeholders deeper, further aligning the business interests of Vallianz and our stakeholders. It is also a demonstration of the industry’s firm confidence in Vallianz’s growth potential,” commented Darren Yeo, executive director and ceo of Vallianz. [17/02/14]