Moya launches one-for-two rights issue

Singapore

WATER treatment company Moya Holdings Asia has launched a one-for-two rights issue.

It has proposed to issue up to 1.4 billion new rights shares at S$0.095 each for every two existing ordinary shares. The issue price was Moya's share price at the close of May 21.

Tamaris Infrastructure, Moya's largest shareholder with a 68.9 per cent stake, has undertaken to fully subscribe for its entitlement under the rights issue. Tamaris is controlled by Indonesi…