In brief

Blumont to raise S$27m from rights cum warrants issue

BLUMONT Group proposed a rights cum warrants issue in a bid to raise up to S$27 million mainly to repay debt. It plans to issue a renounceable non-underwritten rights issue of up to 2.71 billion new shares at an issue price of 1 cent apiece and up to 2.71 billion free detachable warrants. Each warrant carries the right to subscribe for one new share in the company at an exercise price of 1.2 cents. The issue is subject to approval of shareholders and regulators.

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