SINGAPORE, Dec 11 (Reuters) - Mercator Lines (Singapore), a
unit of Indian shipping firm Mercator Lines <MRCT.BO>, on Tuesday
fixed the price of its initial public offering in the city-state
at S$0.76 a share, India's Business Standard said quoting the
firm.
Mercator will raise S$205 million ($142.3 million), after
earlier this month launching its offer of 270 million shares at a
maximum price of 83 Singapore cents.
The company has said in its prospectus that it plans to raise
funds to expand its business by acquiring vessels, investing in
maritime companies and partially redeeming its bonds.
Merrill Lynch <MER.N> and Deutsche Bank <DBKGn.DE> are lead
managers for the IPO.
(Reporting by Kevin Lim)
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Keywords: MERCATOR SINGAPORE/IPO