LH Group receives interest for S$8.1m worth of placement shares
LH Group Limited, said on Monday that its proposed conditional placement at S$0.80 per share has received subscriptions for some 10.1 million shares, amounting to about S$8.1 million.
This represents 35 per cent more than the minimum placement target of S$6 million.
The contractor of aluminium works and producer of traction devices and vehicle parts said the conditional placement is supported by Koh Brothers Group Limited (through its wholly-owned subsidiary) and prominent businessmen affiliated with Tang Group of Companies (owner and operator of the Dorsett Hospitality Chain), Home Fix DIY, and Food Empire Holdings Limited. They collectively applied for 57.5 per cent of the total applications received to-date for the conditional placement.
An extraordinary general meeting will be held on Feb 8 to seek shareholders' approval for the allotment and issue of up to 12.5 million conditional placement shares.
LH GROUP is undertaking a reverse takeover deal to acquire real estate fund management company Pacific Star Development.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Intel slides after tepid forecast spurs fears about comeback
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum
Snap beats first-quarter expectations, shares jump 25%
Google parent announces first-ever dividend; beats on sales, profit; shares soar
Baltimore’s trapped ships start leaving as new channel opens