SG brief: Swiber Holdings

An oil rig platform. Photo by Galen Crout on UnsplashAn oil rig platform. Photo by Galen Crout on Unsplash

Swiber Holdings said Wednesday it has completed the “New Swiber Investment,” with New Swiber ceasing to be a subsidiary and now being converted into an unlisted public company.

New Swiber’s name has been changed to Equatoriale Holdings, Swiber said in a filing to SGX. A total 15.35 billion New Swiber shares were issued to an investor, creditors, management, professionals and shareholders, the filing said.

Swiber will remain in judicial management until 30 September, the filing said.