Metrocon to Raise SG$4.6 Million Through Share Placement
MT Newswires09-04 10:45
Metrocon (SGX:WYO) launched a placement of up to 23 million shares at SG$0.20 apiece to raise up to SG$4.6 million, according to a Thursday filing with the Singapore Exchange.
The placement, tied to its reverse takeover acquisition of Metrocon, is aimed at meeting the minimum public float requirement of 15% of the enlarged share capital held by at least 200 public shareholders.
RHT Capital has been named as the placement agent. Proceeds are earmarked for working capital, manpower costs and business expansion, with completion slated for Sept. 10.
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