Vallianz receives $10M investment from UOC

Vallianz Holdings Ltd., which provides offshore support vessels and integrated marine solutions to the oil and gas industry, says that United Orient Capital Pte Ltd. (UOC) will be investing $10 million in Vallianz to finance the Group’s expanding business operations.

Under a subscription deed that the Group signed with UOC, Vallianz will issue 10 million convertible preference shares (CPS) at an issue price of $1 per CPS to UOC.

Vallianz intends to use the net proceeds of $9.5 million from the proposed subscription for fleet expansion and general working capital.

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