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United Engineers Ltd Proposes Renounceable Underwritten 1-For-1 Rights Issue Of Up To 326,620,154 New Ordinary Shares


Tuesday, 11 Jun 2013 08:47am EDT 

United Engineers Ltd announced that the Company proposes to undertake a renounceable underwritten rights issue of up to 326,620,154 new ordinary shares in the capital of the Company to raise gross proceeds of up to approximately SGD489.9 million. 1.2 The Company has appointed Oversea-Chinese Banking Corporation Limited as manager of the Rights Issue, and OCBC, United Overseas Bank Limited and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch as joint underwriters of the Rights Issue. The Rights Shares will be offered at an issue price of SGD1.50 for each Rights Share, on the basis of one Rights Share for every one existing ordinary stock unit in the capital of the Company held by ordinary stockholders of the Company as at a books closure date to be determined by the Directors, fractional entitlements, if any, to be disregarded. 

Company Quote

2.71
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27 Mar 2015