ValueMax to raise up to S$120 million through digital commercial papers
Tay Peck Gek
PAWNBROKING chain ValueMax Group has launched three commercial papers on two digital asset exchanges.
It is expecting to raise between S$35 million and S$120 million in total from the unsecured short-term debts, all priced at 5 per cent per annum.
In two filings to the Singapore Exchange on Thursday (Dec 7), ValueMax announced the launch of a three-month commercial paper in digital securities on the SDAX Exchange and another three-month and a four-month digital commercial papers on the ADDX Exchange.
ValueMax expects that it would be able to raise between S$20 million and S$50 million from accredited and institutional investors on the SDAX Exchange.
For the two commercial papers on ADDX Exchange, the pawnbroker expects the three-month debt to raise between S$10 million and S$50 million, and the four-month version between S$5 million and S$20 million.
The amounts to be raised will be determined by ValueMax’s board after taking into account demand from investors.
SEE ALSO
Shares of ValueMax closed flat at S$0.325 on Thursday, before the filings were made.
Copyright SPH Media. All rights reserved.
