GSH closes first digital securities issue with S$19.54m raised

GSH Corporation has closed its first initial issue of digital commercial paper and raised S$19.54 million in gross proceeds, the mainboard-listed player said in a regulatory filing on Thursday (Sep 15).

The issue, launched under a S$200 million multi-tranche unsecured commercial paper facility programme and to be listed on the ADDX Platform, offers an interest rate of 4.10 per cent per annum and matures 3 months from the date of its listing.

Sam Goi Seng Hui, Gilbert Ee Guan Hui and Juliette Lee Hwee Khoon were among the subscribers of the issue with their holdings of S$11.82 million amounting to 60.5 per cent of the issue.

Goi is a controlling shareholder and executive chairman of GSH, a group that engages in property development, hospitality business and frozen food trading. Lee is a non-executive director while Ee is the chief executive officer and executive director of GSH.

The counter was flat at S$0.178 at market close on Thursday, before this announcement was made.