Sincap Group has placed out 91.4 million new shares to 12 investors at 6 cents each to raise $5.48 million.
The group intends to use the net proceeds of $5.5 million for general working capital purposes and for the expansion of the business of Orion Energy Resources.
Sincap is principally engaged in the trading of alumina and thermal coal, as well as the mining and sale of gypsum, in China.
The placement shares represent about 18.88% of the enlarged issued and paid-up share capital of the company upon completion of the placement.
The placement price represents a premium of 7.14% to the volume average weighted price of the company's shares of 5.6 cents based on trades done on the Catalist board on Nov 17, the last traded market day preceding the date on which the placement agreement was signed.
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The group intends to use the net proceeds of $5.5 million for general working capital purposes and for the expansion of the business of Orion Energy Resources.
Sincap is principally engaged in the trading of alumina and thermal coal, as well as the mining and sale of gypsum, in China.
The placement shares represent about 18.88% of the enlarged issued and paid-up share capital of the company upon completion of the placement.
The placement price represents a premium of 7.14% to the volume average weighted price of the company's shares of 5.6 cents based on trades done on the Catalist board on Nov 17, the last traded market day preceding the date on which the placement agreement was signed.
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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