Halcyon Agri proposes issue of guaranteed perps in place of rights issue

Singapore

NATURAL rubber supplier Halcyon Agri Corp has proposed the issuance of guaranteed perpetual securities as its latest fundraising option, rather than the earlier proposed rights issue.

In a regulatory filing on Friday, the mainboard-listed firm said this move is a "more optimal and equitable" funding option amid current market conditions. This comes just two months after the firm proposed a renounceable non-underwritten rights issue of up to 797.5 million new shares at 22 Singapore cents apiece.