Raffles Edu shares drop 6.14% after Oei's salvo on rights issue
Chairman Chew Hua Seng says company taking legal advice on Oei's letter requisitioning an EGM
Add BT as a preferred sourceSingapore
RAFFLES Education's stock fell on Friday by 6.14 per cent to close at S$0.107, following news that tycoon Oei Hong Leong wants a shareholders' meeting to vote to quash the private education operator's over-S$27 million proposed rights issue.
After the company announced a renounceable, non-underwritten rights issue on Dec 6, its stock fell steadily from that day's close of S$0.137 to close on Tuesday at S$0.099, before finishing higher at S$0.115 on Wednesday.
TRENDING NOW
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
CDL, Hong Realty outbid 3 other bidders with S$542.4 million offer at S$1,865 psf ppr for Peck Hay plot
Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein
Evergrande’s liquidation prompts some PwC partners to shield assets, contemplate divorce
