Blumont in share placement deal with 'private' individual

Singapore

BLUMONT Group has agreed to place out 100 million new ordinary shares to a "private individual investor", at S$0.01705 apiece in a deal that will net the firm an estimated S$1.67 million after expenses.

The investor, Vigneswaran T Subramaniam, has not had any business dealings with Blumont apart from this share placement, and does not hold any shares in it, Blumont said on Tuesday.