AusGroup gets SGX's in-principle nod for proposed placement, rights issue, redemption share issue

THE Singapore Exchange (SGX) has granted AusGroup an approval in-principle for the listing and quotation of up to 752.4 million rights shares at an issue price of S$0.035, on the basis of one rights share for every two existing shares.

The approval in-principle is also for the listing and quotation of up to 1.05 billion subscription shares at an issue price of S$0.035 for each subscription share, and 80.3 million new shares at an issue price of S$0.042 for each redemption share.

The construction services company will proceed to satisfy the conditions of the approval-in-principle, and will set out a circular with the details of its proposed transactions and a notice convening the extraordinary general meeting to seek shareholders' approval for these transactions in due course.