Sinostar PEC (SGX:C9Q) has responded to queries from the Singapore Exchange Securities Trading regarding its rights issue, according to a Thursday filing on the Singapore Exchange.
The company plans to issue up to 320 million new ordinary shares at SG$0.14 per share, on the basis of one new share for every two existing shares.
Sinostar PEC is preparing a circular for shareholder approval and aims to hold an extraordinary general meeting by November 2024. The controlling shareholder and associates will abstain from voting.
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