Of the $120.0 million, $20.0 million was for the payment of materials and equipment while another $56.0 million was for the labour services of subcontractors.
Sembcorp Marine (SembMarine), on Sept 27, says it has used another $120.0 million of its net proceeds for working capital purposes.
The company received approval from the majority of its shareholders on Aug 23, 2021, to raise $1.5 billion through a renounceable underwritten rights issue with an issue price of 8 cents per rights share in 2021.
