Mooreast (SGX:1V3) raised around SG$6 million through the private placement of around 44.5 million shares at SG$0.135 apiece, according to a Monday filing with the Singapore Exchange.
The new shares represent around 14.7% of the mooring company's enlarged share capital.
Proceeds from the placement will be used on working capital and ongoing projects, including the development of the company's recently-acquired waterfront facility at 60 Shipyard Crescent, the filing said.
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