Rich Capital Holdings (SGX:1U8) proposed placing up to 18 million shares at SG$0.071 apiece to raise up to SG$1.3 million, according to a Wednesday filing with the Singapore stock exchange.
If fully subscribed, the new shares will constitute around 49.03% of Rich Capital's existing share capital, and 32.90% post-placement of the enlarged share base of 54,713,684 shares.
Net proceeds from the placement will be split equally between funding new business opportunities and general working capital needs.
SAC Capital Private Limited was appointed as the placement agent.
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