-- Pacific Radiance (SGX:RXS) allotted and issued over 4.1 million shares pursuant to the exercise of warrants, according to an after-market filing with the Singapore Exchange on Tuesday.
Following the allotment and issuance of the new shares, the offshore marine services company's share capital has increased to 1.46 billion shares, excluding treasury shares.
The new shares will be listed and quoted on May 7.
With year-over-year comparisons still distorted by last spring's tariff-related pull-forward, United States light vehicle sales declined in April, down 5.7% year over year, said Bank of Montreal (BMO).On a level basis, sales ran at 16.1 million units seasonally adjusted annual (SAAR), suggesting demand is holding up despite another month of elevated gasoline prices, noted the bank.At US$4.46/gallon in early May -- more than 30 cents per gallon higher month over month -- and about 375 million gallons dispensed per day, consumers are spending roughly US$130 million extra each day versus a month ago, calculated BMO.If fuel prices stay elevated, the risk is that higher operating costs begin to weigh on discretionary spending and vehicle demand in the months ahead, stated the bank.Canadian new vehicle sales also eased in April, with the year-over-year drop still affected by the same tariff pull-forward base effect, pointed out BMO. Sales slipped to 1.81 million units annualized, while volumes were down 3.9% year over year.The market has held up better than feared despite trade uncertainty and near-record gasoline prices, it added. Canadian regular gasoline averaged $1.94/liter in earlyMay, up about 5 cents per liter month over month following the pause in the federal excise tax until September (10 cents per liter).One trend to watch will be whether zero emission vehicle (ZEV) sales re-accelerate later this year as cheaper models improve availability, according to BMO. Canadian ZEV sales had a strong showing in late February and in March, but cooled somewhat in April.