Samudera Shipping Line (SGX:S56) agreed with EKH to invest around SG$7.3 million through the subscription of an unsecured convertible bond, according to a Friday filing with the Singapore Exchange.
Shares of the shipping line and container services company were up nearly 5% in Monday trading.
The subscription amount will be satisfied by the company's internal resources, while the proceeds will be used by EKH for general working capital and for the construction and development of its integrated logistics hub in Singapore, the filing added.
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