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AUTOMATION-solutions provider Hisaka Holdings announced that four of its shareholders have entered into a placement agreement to raise the company's free float.
A total of 13,375,636 consolidated shares will be placed out at 82.5 cents by the four vendors, with CIMB Securities as the placement agent.
The Singapore Exchange has given Hisaka a month to complete the compliance placement to raise the percentage of the company's shares held in the hands of the public to at least 25 per cent of its issued share capital.
The Offer Information Statement in relation to the compliance placement was lodged with the authority on Thursday.