IPS Securex Holdings has placed out 8.9 million shares to “certain institutional investors” at 71 cents per share to raise $6.32 million.
“This transaction when completed may be viewed as an affirmation of the level of institutional interest in IPS Securex and their belief in the long term growth prospects of the company,” says Kelvin Lim, executive chairman and CEO.
On completion of this sale, the new shareholders will own 5.5% of the company. IPS Technologies, the controlling shareholder, will hold 51.2%.
IPS Securex is a regional provider of various security products and security solutions.
As at 4.45pm, shares of IPS Securex gained 0.5 cents to 79 cents.
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“This transaction when completed may be viewed as an affirmation of the level of institutional interest in IPS Securex and their belief in the long term growth prospects of the company,” says Kelvin Lim, executive chairman and CEO.
On completion of this sale, the new shareholders will own 5.5% of the company. IPS Technologies, the controlling shareholder, will hold 51.2%.
IPS Securex is a regional provider of various security products and security solutions.
As at 4.45pm, shares of IPS Securex gained 0.5 cents to 79 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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