F J Benjamin plans rights cum warrant issue to raise up to S$39m; narrows Q1 losses
FASHION retailer F J Benjamin Holdings (FJB) announced on Monday a rights cum warrants issue to raise up to S$39 million.
About S$12.0 million will be raised through the issue of 341.2 million new shares at S$0.035 each on the basis of three rights shares for every five existing shares. It is also proposing to issue two free warrants for each rights share, or a total of 682.5 million warrants. The warrants, with a three-year exercise period, will have an exercise price of S$0.04 per warrant. If fully exercised, it will raise another S$27 million.
The rights are priced at a discount of 22.2 per cent to FJB's last traded price of S$0.045 per share on October 17, 2017 being the last full trading day of the shares immediately preceding this announcement; and 15.15 per cent to the theoretical ex-rights price of $0.04125 per share.
FJ Benjmain also unveiled that it has narrowed its losses in the fiscal first quarter ended September 30, 2017 to S$942,000 from a net loss of S$3.6 million a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Airbus net profit soars 28% in first quarter
Carrier AirAsia discloses new listing plans under RM6.8 billion units merger
Intel slides after tepid forecast spurs fears about comeback
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum
Snap beats first-quarter expectations, shares jump 25%