ValueMax Group has launched the eighth series of its three-month commercial paper (CP) in digital securities on the ADDX, through the private market exchange’s CP programme.

The mainboard-listed pawnbroking chain on Tuesday (Sep 12) said it expects to raise between S$20 million and S$50 million from both accredited and institutional investors. 

The digital securities are priced at 5.1 per cent per annum and are due to mature three months from the issuance date.

Shares of ValueMax : T6I 0% were trading unchanged at S$0.315 as at 1.17 pm on Tuesday, after the announcement.

ValueMax offers pawnbroking and secured moneylending services, and engages in the retail and trading of jewellery and gold.

Its last issuance was a four-month Series 001 digital securities CP, which was listed on the ADDX on Aug 23 and raised S$14.9 million at its close after receiving “strong demand from investors”. 

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About 3.5 per cent of the series was subscribed by Yeah Lee Ching – who is an executive director of ValueMax and is also the daughter of executive chairman Yeah Hiang Nam – and the company’s independent non-executive director Tan Soon Liang.