The new share issuance is undertaken to capitalize an existing intercompany loan of US$22.5 million from ASL Shipyard Indonesia to ASL Shipyard.
ASL Marine makes an additional investment into its wholly-owned subsidiary ASL Shipyard Indonesia from US$18.8 million to US$43.8 million, through 25,000 new ordinary shares.
The new ordinary shares are issued at a price of US$1,000 per share to the company and the new share issuance.
