Rowsley gets nod to issue new shares for Ariva purchase

Singapore

REAL estate company Rowsley has received the Singapore Exchange's (SGX) go-ahead to issue new shares to fund a multimillion-dollar acquisition.

It said in a filing to SGX on Wednesday that it had received in-principle approval for the listing and quotation of 53.3 million new ordinary shares in the capital of the company, to be issued at S$0.15 per consideration share, in connection with the proposed acquisition of hotel manager Ariva.