Darco to raise S$900,000 from share placement to significant shareholder
1.5m shares sold to Robert Stone at S$0.60, raising his stake to 18.13 per cent
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Singapore
WATER treatment specialist Darco Water Technologies is raising S$900,000 through a placement arrangement with significant shareholder Robert Stone, who will take up 1.5 million new shares of the company at S$0.60.
The placement price represents a premium of about 3.4 per cent of the volume weighted average price of S$0.58 per share as at Nov 14, the last full market day before the agreement.
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