Sino Grandness to place out 170m shares at S$0.04 apiece to raise S$6.8m

Singapore

SINO Grandness Food Industry Group has entered into a placement agreement with JW Capital Group to raise net proceeds of around S$6.8 million to repay outstanding sums to Soleado Holdings and strengthen its financial and working capital.

It plans to issue 170 million new shares at the issue price of S$0.04 per placement share, the Chinese canned vegetable and fruits producer said in a bourse filing on Monday morning before the market opened.