SINGAPORE's Neptune Orient Lines (NOL) has successfully wrapped up its SGD1.437 billion (US$985 million) rights issue which closed on July 8, after attracting 104.5 per cent applications meaning the share offer was oversubscribed.
Its 67.4 per cent majority shareholder, Temasek Holdings, had earlier committed to fully underwrite the rights offer, if existing shareholders did not take up their full entitlements, said the AXS-Alphaliner Weekly Newsletter.
But with the oversubscription, Temasek Holdings' shareholdings will remain at its present level.
Its 67.4 per cent majority shareholder, Temasek Holdings, had earlier committed to fully underwrite the rights offer, if existing shareholders did not take up their full entitlements, said the AXS-Alphaliner Weekly Newsletter.
But with the oversubscription, Temasek Holdings' shareholdings will remain at its present level.