Ezra hunts for funds after massive profit crash
It wants to deleverage.
Ezra is on the lookout for funds after its sharp profit crash in the fourth quarter.
According to a report by OCBC, Ezra is seeking to deleverage as its net gearing now stands at 1.15x. The group is also focused on free cash flow generation as it has now reached the end of its subsea capex cycle.
“We also expect more asset sales, especially of non-core assets. According to Reuters, the group is also exploring fundraising options to refinance debt, and this includes equity, equity-linked solutions,” stated OCBC.