Corporate digest

Japfa

JAPFA has proposed to undertake a renounceable non-underwritten rights issue of up to 188,137,749 new ordinary shares at an issue price of S$0.50 for each rights share, on the basis of one rights share for every 10 existing ordinary shares.

The issue price represents a discount of 13 per cent to the closing price of S$0.575 per share on Wednesday, and a discount of 12.3 per cent to the theoretical ex-rights price of S$0.570 per share based on the last traded price.