Swissco Holdings to issue redeemable exchangeable preference shares

By Toni Weeks

San Luis Obispo, Calif., Sept. 17 – Swissco Holdings Ltd. said it intends to issue redeemable exchangeable preference shares through two of its subsidiaries.

According to a company announcement, the company plans to issue up to 21,975,000 exchangeables through S&E Offshore Investments Pte. Ltd. and up to the same amount of exchangeables via S&E Offshore Investments 2 Pte. Ltd.

The company also said that it receive approval in principal from Singapore Exchange Ltd. for the listing and quotation of up to 62,708,778 new ordinary shares that will be issued upon exchange of the new redeemable exchangeable preference shares.

The Singapore-based company provides marine services to the shipping and offshore oil and gas industries.

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