Asiasons eyes $25m convertible loan facility from directors
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
BATTERED investment firm Asiasons Capital plans to take a $25 million convertible loan facility from two of its key directors as a source of standby capital, it was announced yesterday.
Draw-downs on the four-year facility will incur annual interest of 6 per cent.
The lenders - co-founders and co-managing directors Ng Teck Wah and Jared Lim Chih Li - may choose to be repaid upon maturity in shares at 25 cents apiece, or a 58 per cent premium to Asiasons' Tuesday close of 15.8 cents. The stock ended at 15.5 cents yesterday.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
