ACMA (SGX:AYV) entered into placement agreements for the placement of up to 8.5 million shares in the company's capital at SG$0.04 per share to raise around SG$339,128, according to a Tuesday filing with the Singapore Exchange.
Shares of the distributor of air conditioning and ventilation systems surged 100% in Wednesday morning trading.
The four placees are individual investors, with the amount raised to be used to improve the company's liquidity and cash resources.
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