Falcon Energy Group has been forced to sell a large stake in CH Offshore at a massive discount to help pay an outstanding installment on a bank loan.
The Singapore-listed company has sold the 21.8% stake, or 153.8m shares, to Singapore-based SZ Offshore Investment Pte for SGD 20m ($14.3m).
This equates to SGD 0.13 per share. CH Offshore’s shares were trading at SGD 0.26
