Addvalue Tech to place 100m new shares to raise S$2.5m

ADDVALUE Technologies announced after trading hours on Wednesday that the company has entered into several subscription agreements to place 100 million new shares at S$0.025 per share with the total consideration amounting to S$2.5 million.

The ten subscribers are a mix of investors and employees: Audrey Hing Zeng Ming, Yuen Wai Kheong, Yuen Wai Leng, Fong See Chuen, Tan Kiang Peng, Ekanayake Mudiyanselage Lakshman Ekanayake, Dr Hu Gang, Tan Juay Hwa, Eyal Trachtman, and Richard Cooperman.

The placement shares represent approximately 5.34 per cent of the enlarged issued and paid-up share capital of the company.