Indonesia's Wintermar Offshore Marine is continuing its refinancing with a planned share sale.
It has won investor backing to issue 400m new shares to affiliated parties.
The minimum price for the placement will be IDR 258.48 each, giving proceeds of IDR 103bn ($7.67m).
It can sell any time up to 18 May, 2019.
The money will be used to reduce debt, provide working capital and fund business development.
Earlier this week it announced a debt deal with banks to ease its financial burden.
