Y Ventures (SGX:1F1) proposed to undertake a renounceable non-underwritten rights issue of 246,854,000 new shares in the company's capital at an issue price of SG$0.004 per share, according to a filing with the Singapore Exchange on Monday.
Net proceeds from the issue will be used for general working capital purposes.
Shares of the e-commerce company soared nearly 13% in recent trading.
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