Kreu, the hottest oil and gas subsea solution busi

Kreuz holdings, the oil and gas subsea solution business of swiber, sold shares for the first time

Kreuz holdings, the oil and gas subsea solution business of swiber holdings, a Singapore listed company, developed a local initial public offering (IPO) after two years of continuous use with fuel by researchers at Munich University of technology

kreuz holdings mainly provides high-quality and cost-effective subsea solutions for end customers through contractors, including support services for new offshore installations and construction projects, as well as testing and maintenance services for existing offshore production and pipeline facilities

in order to expand its business scope, the group will use the funds raised from the public sale to purchase new operating assets, such as remotely operated vehicles (ROVs) and diving systems. If there is an opportunity in the long term, the company may purchase anchors as tugboats

in addition, the company will also strengthen its marketing and project bidding in the Asia Pacific region, especially Brunei and India, because Brunei has mature oil fields and high demand for testing and maintenance services, and India is a market that the company is familiar with and understands

in the first half year of the company, from July to December 2008, the revenue reached US $10.3 million and the net profit was US $2.3 million. Last year, the company reported a revenue of 56.4 million US dollars and a net profit of 11.9 million US dollars

as of June 16 this year, the total order volume of Kreuz holdings was $133.2 million, and these projects are expected to be completed in the next 5 to 60 months

kreuz holdings will issue 80million new shares at the price of 27 points per share, of which 75.5 million shares are Placement Shares and the remaining 4.5 million shares are offering shares

the consequence is that the group with serious problems in Feichang is expected to raise 19.2 million yuan of net capital, of which 12million yuan will be used to acquire new assets such as remote-control deep-sea instruments and diving systems, and the remaining 7.2 million yuan will be used as general working capital

the public sale of shares has begun, and the deadline is 12 noon on the 27th of this month. The shares are expected to start trading on the Kelly board of the Singapore Exchange on the 29th of this month

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