Zixin Group's Rights Cum Warrants Issue Closes with Total Applications at 148%; Shares Surge 5%

MT Newswires06-21

Zixin Group (SGX:42W) said at the close of its rights cum warrants issue, valid acceptances and valid excess applications for 213,364,195 rights shares with 853,456,780 warrants were received, according to a filing with the Singapore Exchange on Thursday.

The applications represent about 147.7% of the 144,481,810 rights shares with 577,927,240 warrants available for subscription under the issue. Valid acceptances, however, represent only 65.4%.

Earlier in March, the company had proposed to undertake a renounceable non-underwritten rights cum warrants issue of up to 144,481,810 new shares at an issue price of SG$0.0165 per rights share with up to 577,927,240 free detachable warrants.

Shares of the biotech firm surged over 5% in recent trading.

Price (SGD): S$0.02, Change: S$, Percent Change: +5.00%

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