Thai offshore vessel player Mermaid Maritime has proposed a SGD 5.5m ($4.1m) rights issue after revealing that 2020 was the third consecutive year it operated at a loss.
The company, which is listed in both Singapore and Bangkok, said on Friday that it proposed a non-renounceable, non-underwritten rights issue with warrants for 70.6m new ordinary shares.
The issue would increase its share capital to just over 1.48bn
