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IPCO International Ltd Announces Proposed Placement Of New Ordinary Shares


Tuesday, 29 Jan 2013 01:37am EST 

IPCO International Ltd announced that it has entered into a subscription agreement with Joanne Ng Siong Ngee (the Placee), whereby the Placee have agreed to subscribe for 90,000,000 new ordinary shares in the capital of the Company at the issue price of SGD0.02052 for each Placement Share (Issue Price) to raise SGD1,846,800. The Issue Price represents a discount of approximately 10% to the volume weighted average price of SGD0.0228 for trades done on the ordinary shares in the capital of the Company on the Singapore Exchange Securities Trading Limited (SGX-ST) on the preceding market day up to the time the Subscription Agreement is signed. The estimated net proceeds from the Proposed Placement, after deducting estimated expenses pertaining to the Proposed Placement of SGD10,000.00, will be approximately SGD1,836,800. The net proceeds will be used entirely for working capital and short term investment purposes of the Company and its subsidiaries. 

Company Quote

0.0060
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24 Oct 2014