Y Ventures (SGX:1F1) proposed to undertake a renounceable non-underwritten rights issue of up to 246,854,000 new shares at an issue price of SG$0.004 per rights share, according to a filing with the Singapore Exchange on Tuesday.
The price represents a discount of 66.67% to the closing market price of SG$0.012 on the Catalist board on May 27.
Net proceeds of SG$890,000 are intended to fund the working capital of the group.
Shares of the e-commerce company surged nearly 8% in recent trading.
Price (SGD): S$0.01, Change: S$, Percent Change: +8.33%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments