ValueMax launches unsecured digital commercial paper at 5.15% to raise up to S$20 million

VALUEMAX Group launched on Tuesday (Jun 20) an issue of unsecured commercial paper in digital securities at an interest rate of 5.15 per cent with a maturity of three months.

The mainboard-listed group, offering pawnbroking and secured moneylending services, and engaging in the retail and trading of jewellery and gold, said in a bourse filing on Tuesday that it expects to raise S$10 million to S$20 million from accredited and institutional investors from the issuance, to be listed on the SDAX digital platform.

The issuance is part of a S$100 million multi-series unsecured commercial paper facility programme launched by ValueMax on the digital platform on Tuesday.

ValueMax shares were flat at S$0.325 at market close on Tuesday, before this announcement.