Corporate digest

Darco Water Technologies

DARCO Water is proposing to issue S$6.5 million worth of new shares to three private investors at S$0.35 apiece.

The 18.7 million new shares will make up 16.62 per cent of Darco's enlarged share capital. The issue price of S$0.35 a share represents a premium of about 75 per cent to the volume-weighted average price of S$0.20 for trades done on Jan 8, the last full market day the shares were traded prior to Sunday, the day the subscription agreement was executed.