Singapore's restructuring Swiber Holdings is trying to use its subscription rights in Vallianz Holdings' share issue to settle debts owed by its rival.
Swiber's judicial managers have confirmed to Vallianz that it wants to take part in the stock and warrants placement.
It owns 25.15% of Vallianz and can subscribe for 903.5m shares and 1.8m warrants worth a total of SGD 18.1m
