Singapore shipping struggles with boardroom diversity tradewindsnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradewindsnews.com Daily Mail and Mail on Sunday newspapers.
The restructuring will see Temasek Holdings unit Heliconia Capital Management injecting up $600m into PIL in the form of debt and equity combined with a financial restructuring.
Under the restructuring plan unsecured creditors and claims will be converted to perpetual securities which can be sold on the OTC market.
PIL said previously the restructuring was a last resort and the only other alternative was to enter liquidation of the company.
SS Teo, executive chairman & managing director of PIL, said: “Following the acceptance of the debt repayment plan by our subsidiary, Singamas Container Holdings last December, the success of the Scheme Meeting is another milestone for us.
Singapore-based
iSTOX, a blockchain-powered digitized securities platform, has finalized a $50 million Series A funding round with participation from two state-backed investors based in Japan.
As noted by the company’s management:
“iSTOX is a future-ready capital markets platform set to usher in a new era for capital fundraising and investment. Through the use of Digitized Security Offerings, iSTOX offers a more innovative, flexible, inclusive, and efficient system for an emerging generation of investors and issuers. As part of its mission, iSTOX seeks to enable all users to transact precisely as and how they like and extends capital markets access to a wider segment of the community. iSTOX is owned by ICHX.”
iSTOX raises US$50m as new Tokyo-backed investors come aboard businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.