SIIC in 3.1b share placement to raise $260m

Singapore

MAINBOARD-listed Chinese water treatment company SIIC Environment Holdings is placing out 3.1 billion new shares to five investors including its controlling shareholder at an issue price of 8.5 cents per placement share.

That represents a 13 per cent discount to the volume weighted average price of 9.77 cents per share for trades done on Oct 10 - the last full market day up to when the subscription agreements were signed on Oct 11.