MDR revises price for rights-cum-warrants issue
MDR, which distributes and sells mobile devices and services, announced on Tuesday revised terms of its proposed rights-cum-warrants issue, which had previously been rejected by the Singapore Exchange (SGX).
In its revised form, the issue will offer up to some 25 billion new ordinary shares at an issue price of S$0.00188 for each rights share, with up to 225.5 billion free detachable warrants.
In October, MDR had proposed offering up to 100 billion rights shares at an issue price of S$0.001 each, and up to 300.7 billion warrants. SGX had rejected the company's application, saying that the theoretical value of the nil-paid rights was below the minimum trading price of S$0.001.
MDR shares last traded at S$0.004, down S$0.001, on Tuesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Latest Singapore 6-month T-bill offering cut-off yield of 3.74%
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Nissan, Mazda roll out new models for China as they aim for comeback
South Korea readies new system to detect illegal short-selling
Axiata, Sinar Mas move closer to US$3.5 billion telco merger
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials