MMP Resources issues convertible bonds and places shares to Maiora

Singapore

MMP Resources, which invests in construction-related firms, will be issuing convertible bonds to its controlling shareholder, Maiora Asset Management, for a total principal amount of up to S$100,000, and placing some eight million shares for another S$43,000.

The estimated net proceeds of about S$114,500 will be used for investment in the company's construction opportunities in Tier 1 markets, as well as operating expenses, said MMP Resources.