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

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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.

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.

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