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Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report
Provider: Wright Reports
Provider: Thomson Reuters Stock Report

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China Bearing (Singapore) Ltd Proposes Placement Of New Ordinary Shares

Sunday, 21 Apr 2013 06:57pm EDT 

China Bearing (Singapore) Ltd announced that it had on April 19, 2013 entered into a placement agreement with UOB Kay Hian Private Limited (UOBKH or the Placement Agent) as placement agent pursuant to which UOBKH has agreed, on a effort basis, to procure subscribers for up to 46,000,000 new ordinary shares in the capital of the Company at the placement price of SGD0.0297 per Placement Share. When allotted and issued in full, the estimated net proceed from the Placement after deducting expenses incurred in connection with the Placement is expected to amount to approximately SGD1.3 million and will be utilised by the Company for working capital requirements. The Company will make an announcement as to the use of the proceeds from the Placement as and when such proceeds are materially disbursed and whether such a use is in accordance with the stated use and in accordance with the percentage allocated. Where there is any material deviation from the stated use of proceeds, the Company will announce the reasons for such deviation. 

Company Quote

0.0020 +6.90%
19 Dec 2014