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Marco Polo Marine Completes Partial Sale of Stake in Subsidiary PKR Offshore to Employees

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Marco Polo Marine (SGX:5LY) has completed the sale of a portion of its stake in indirectly-held subsidiary PKR Offshore to some of its key employees, according to a Monday filing with the Singapore Exchange.

In April, the company said certain employees are looking to subscribe for 1.3 million shares in PKR Offshore, which specializes in offshore wind farm support, for NT$26.9 million, at an issue price of NT$21 per share.

The NT$26.9 million consideration has been paid in full in cash by the subscribers, completing the transaction.

Following the completion of the subscription, the company's stake in PKRO has reduced to 46.5% from 49%.

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