Marco Polo Marine Receives SGX-ST Approval for Proposed Share Placement

Key Highlights and Implications for Investors

Marco Polo Marine Ltd. (“the Company”) has received in-principle approval from the Singapore Exchange Securities Trading Limited (SGX-ST) for its proposed placement of up to 144,865,920 new ordinary shares at a placement price of S\$0.145 per share. This significant development was announced following the Company’s earlier notice on 24 February 2026.

Key Points Investors Should Note

• Approval in Principle Granted: On 26 February 2026, SGX-ST granted its conditional approval for the listing and quotation of the new shares. The placement shares must be placed out within seven market days from the date of approval, indicating a short timeline for completion.
• Placement Size and Pricing: The placement involves up to 144,865,920 new ordinary shares, priced at S\$0.145 each. This could potentially raise a substantial amount of new capital for the Company, which may be deployed for business expansion, debt repayment, or working capital.
• SGX-ST Conditions: The approval is subject to the Company and its placement agent fulfilling several undertakings and confirmations, including:
  • Complying with Listing Manual Rules 704(30) and 1207(20) regarding the detailed disclosure and breakdown of the use of proceeds, particularly when used for working capital purposes.
  • Ensuring compliance with Rule 803 of the Listing Manual, both by the Company and the Placement Agent.
  • Providing written confirmation that placement shares will not be issued to prohibited persons under Rule 812(1).
• Disclosure Obligations: The Company is required to provide ongoing and transparent disclosures on the use of proceeds via announcements and annual reports, which will be important for shareholders tracking the deployment of funds.

Shareholder Considerations and Price Sensitivity

• POTENTIAL SHARE DILUTION: If fully placed out, the proposed issue will increase the total number of shares in the market, potentially diluting existing shareholdings. However, the new capital could support business growth and strengthen the Company’s financial position.
• Completion Not Guaranteed: The placement remains subject to the fulfillment of all conditions precedent in the Placement Agreement. There is no certainty that all conditions will be met or that the placement will proceed as planned.
• Price Sensitive Event: The successful placement could provide a significant capital boost, supporting expansion or operational needs, which may positively impact the Company’s valuation. Conversely, failure to complete the placement could weigh on market sentiment.

Next Steps and Ongoing Updates

The Company has committed to keeping shareholders informed of all material developments related to the placement, including progress updates and any changes to the transaction’s status. Shareholders are urged to monitor announcements closely and to exercise caution in trading the Company’s shares during this period of uncertainty.

Cautionary Note

The Board has emphasized that the Proposed Placement is not yet final and is subject to the fulfillment of various conditions. Shareholders and investors should exercise caution and seek professional advice if in doubt about their investment actions.

Product Classification

The Placement Shares are classified as prescribed capital markets products and Excluded Investment Products under Singapore regulations, making them suitable for a broad range of investors.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or an offer to buy or sell any securities. Investors should refer to official announcements and consult their professional advisers regarding the implications of the proposed placement. The outcome of the placement is subject to the fulfillment of conditions and may not proceed as described.

View MarcoPolo Marine Historical chart here