The rig repair and offshore services specialistbagged net proceeds of S$36.4 million (US$28.45 million) from the listing of174 million shares at S$0.25 apiece.
Kim Heng said it intends to use S$20million of the proceeds to enhance its yard facilities and also to expand itsown fleet of offshore vessels.
A further $7 million will be spent onexpanding its service offerings to the oil & gas industry, with possiblemergers, acquisitions, joint ventures or other business alliances in theoffing.
It
