Tat Hong Holdings will prioritize crane fleet, infra expansions: OCBC

Net proceeds from new shares placement may also go to oil & gas.

In its Market Pulse comments, OCBC noted that Tat Hong Holdings (Tat Hong) announced the placement of 70m new ordinary shares at S$1.20 per share, or a discount of 8% to yesterday’s closing price (S$1.30).

"Assuming the 70m placement shares are allotted and issued, Tat Hong’s share capital will be enlarged by 13.9%. The net proceeds of S$82m will be used to increase the group’s crane fleet and expand the group’s participation in infrastructure and oil & gas projects in the Asia-Pacific region," OCBC said.

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