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Mermaid Maritime

Fully underwritten 9-for-20 rights share issue.Raising equity in preparation of asset acquisition.Distressed assets purchase could occur in 3-6 months.Maintain BUY, with higher S$1.71 target price.9-for-20 rights share issue.Mermaid has announced 9-for-20 rights share issue to raise gross proceeds of S$156m, or net proceeds of S$152m. Therights shares will represent 31% of the enlarged outstanding shares ...

 

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