Mercurius proposes to raise S$6m through share placement to 12 individuals

MERCURIUS Capital Investment is proposing to raise S$6 million by placing out shares to 12 individuals, including some existing shareholders.

In a Sunday bourse filing, Mercurius said it has entered into conditional agreements to issue and allot 150 million new ordinary shares in the capital of the company at S$0.04 per share.

It plans to use S$5.8 million of the S$5.96 million net proceeds for business investments and acquisition and the balance for general working capital.

Six of the individuals are existing shareholders while the rest were introduced to the company by chairman and chief executive Chang Wei Lu.

These individuals largely comprise medical practitioners and businesspeople engaged in property investment.