China Sunsine places out treasury shares for S$17.5 million

RUBBER chemicals maker China Sunsine Chemical Holdings has placed out all its treasury shares for about S$17.5 million in net proceeds, it said in a Singapore Exchange filing on Wednesday.

It said it sold its roughly 27.7 million treasury shares for S$0.646 each on May 9 to various investors including Asdew Acquisitions, Island Asset Management and ICH Capital.

It will keep the proceeds to pay dividends in future, it said.