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Pacific Andes shares hit by news of 4-for-5 rights issue

Singapore

SHARES in Pacific Andes Resources Development were sent reeling on Tuesday, falling 26 per cent to S$0.08 on news that the global frozen fish supplier has proposed to raise about S$192.3 million in net proceeds from an issue of some 3.83 billion rights shares at S$0.051 apiece.

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