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EMPLOYMENT services company Advancer Global on Friday said that it had entered into an agreement to allot and issue 65 million new shares in the company at about S$0.34 each to Tokyo-listed human resource firm Fullcast Holdings.
This will raise net proceeds of about S$21.78 million for the expansion of its business operations and for working capital requirements.
In conjunction with this, Advancer also signed a separate agreement with Fullcast on Friday to form a strategic alliance. Both sides have agreed to discuss specific details relating to the setting up and operation of a joint venture company in Japan in the near future to provide foreign labour staffing and employment services in Japan.
Advancer's shares did not trade on Friday. They last closed at S$0.305 on Thursday.
MAINBOARD-listed XMH Holdings warned on Friday that it expects to report a loss in its results for the fourth quarter and full year ended April 30, 2018.
It said that this was due to weak revenue from a delay in the commencement of projects and collection of orders placed.
Further details of XMH's financial performance will be disclosed when the company announces its unaudited consolidated financial results for Q4 2018 and FY2018 on or before June 29.
Singapore Kitchen Equipment
SINGAPORE Kitchen Equipment has submitted an application to the Hong Kong Stock Exchange to list on its GEM board.
The eventual listing and public offering of new shares on the Hong Kong Stock Exchange is subject to approval of shareholders, among other conditions.