Ezra

Ezra: its big fall in Sep coincides with the drop in share price of Oslo-listed Emas Offshore (EMAS). Oslo-traded EMAS fell from peak of NOK7.41 (25 Aug) to low of NOK5.08 (18 Sep), before recovering to NOK 5.75 now . The volatility in the Oslo-listed EMAS counter could affect demand for upcoming secondary listing of EMAS in S'pore. In fact, on Wednesday, Reuters reported that EMAS has reduced the sale to 57.6m shares at $1.21 (NOK 6.10) each, without giving a reason for the change. Meanwhile, Ezra has also agreed to defer for up to three years the majority of cash owed by assets bought by EMAS. Recall, in Jul, Ezra said it planned to sell its offshore support services division to EMAS for $520m, made up of $370m worth of EMAS shares and $150m in cash.