Popiah King to invest S$18.45m in Halcyon Agri

SINGAPORE billionaire Sam Goi Seng Hui is set to emerge with a 5.94 per cent stake in Catalist-listed rubber firm Halcyon Agri Corp once he picks up 25 million new Halcyon shares under a proposed placement that will cost S$18.45 million.

The shares will be placed out to Mr Goi at 73.8 Singapore cents a piece - a discount of 9.88 per cent to Halcyon's weighted average price of 81.89 Singapore cents on Aug 22, a day before the placement agreement was inked.

Halcyon's shares were last traded at 81.5 Singapore cents on Monday before trading in the counter was halted on Tuesday pending the announcement.