Halcyon Agri plans 1-for-2 rights issue to raise S$174.7m

Singapore

NATURAL rubber supplier Halcyon Agri Corp on Monday proposed a renounceable non-underwritten rights issue of up to 797.5 million new shares at 22 Singapore cents apiece.

The mainboard-listed firm plans to offer eligible shareholders one rights share for every two existing ordinary shares they hold.

The issue price of 22 cents for each rights share represents a 36.2 per cent discount to the last transacted price of 34.5 cents per share for trades done on June 19.

It is also a 35.7 per cent discount to the volume weighted average price of 34.2 cents traded over the last five consecutive market days including June 19, and a discount of about 27.4 per cent to the theoretical ex-rights price of 30.3 cents calculated based …

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