Healthway Medical to issue up to 133.3m new shares at 3 Singapore cents apiece

CLINIC operator Healthway Medical Corporation on Monday said it will issue up to 133.3 million new ordinary shares at three Singapore cents each, to raise net proceeds of about S$3.75 million. The money will be split 45 per cent towards working capital, and 55 per cent towards the group's Singapore expansion plan.

The placement shares are priced at a premium of approximately 10.7 per cent to the weighted average price of S$0.0271 for trades done on Monday. KGI Fraser Securities is the placement agent, and the shares will be placed to institutional investors.