On May 19, CH Offshore conducted a rights issue, offering existing shareholders the opportunity to purchase 1,409,785,028 new shares at a discounted price of one cent per share, with a two-for-one ratio.
Linus Loo, analyst at Lim & Tan Securities, has identified offshore and marine player (O&M) CH Offshore to be an “ideal privatisation candidate” in a non-rated report dated July 18.
The company owns and charters six 12,240 brake horsepower (BHP) vessels that are equipped for heavy offshore work in deep sea areas. These vessels operate across the globe from Mexico, Africa, India to Southeast Asia, supporting oil and gas majors and oil field contractors.
