SinoCloud Group has entered into a placement agreement with four investors who will subscribe to a total of 1.38 million new shares at 0.35 cent each to raise $4.82 million.
About $1.4 million will be used to finance or fund any possible acquisitions, purchases or investments in relation to data centre projects which the group is exploring to venture into.
The issue price represents a premium of 75% to the volume weighted average price of 0.2 cent each based on trades done on Catalist board of the SGX on Thursday.
The placement shares also represent 12.61% of the enlarged issued share capital of the company.
The four investors, Huang Min, Cou Tzi Meng, Chui Keung Wah and Alternus Capital Goldings controlled by Lam Cho Ying, were introduced to the company by Executive Director Luk Chung Po.
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About $1.4 million will be used to finance or fund any possible acquisitions, purchases or investments in relation to data centre projects which the group is exploring to venture into.
The issue price represents a premium of 75% to the volume weighted average price of 0.2 cent each based on trades done on Catalist board of the SGX on Thursday.
The placement shares also represent 12.61% of the enlarged issued share capital of the company.
The four investors, Huang Min, Cou Tzi Meng, Chui Keung Wah and Alternus Capital Goldings controlled by Lam Cho Ying, were introduced to the company by Executive Director Luk Chung Po.
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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