LCD Global drops rights issue; offeror fixes bid price at S$0.33 a share
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Singapore
DIRECTORS of LCD Global Investments have put an earlier proposal for a rights issue of convertible bonds on the back burner, after a cash offer from Aspial Corp and Fragrance Group turned the rights issue unfavourable to shareholders.
The decision to cancel the rights issue was made "in light of the offer being a significant intervening event and to allow the higher offer price of 33 Singapore cents per offer share to be made available to shareholders", the board of directors said on Wednesday.
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