Bloomberg.com, 2 Jun 2009, Shiyin Chen
June 2 (Bloomberg) -- Neptune Orient Lines Ltd., Southeast Asia’s largest container carrier, plans to raise S$1.44 billion ($1 billion) selling new shares to repay debt. The stock surged the most in more than eight months.
Investors will be able to buy three new shares for every four held at S$1.30 apiece, a 15 percent discount from the May 29 closing price, the company said in a statement to the Singapore stock exchange. Temasek Holdings Pte, the company’s largest shareholder, will sub-underwrite the entire issue.
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