SunMoon to place out S$15m shares to Chinese fresh food retailer
SUNMOON Food Company on Friday said it will place out S$15 million in new shares to Shanghai Yiguo E-Commerce, a Chinese fresh food retailer with a "strategic partnership" with Alibaba.
Following the placement, the investor will hold about 51.1 per cent of the enlarged share base. The placement involves 333 million shares at S$0.045 per placement share.
The placement shares also come attached with 167 million free unlisted warrants, each carrying the right to subscribe one new share at S$0.054. The rights of the warrants may be exercised in the three years following the date of issue of the warrants.
Shanghai Yiguo E-Commerce has been an existing customer of SunMoon since October 2015. It did not elaborate on its supposed ties with Alibaba.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US seeks 36 months’ jail for Binance founder Zhao
China’s Huawei launches new software brand for intelligent driving
Capital A chief Fernandes defers retirement, renews contract for five years
China’s SenseTime soars 36% after unveiling beefier AI model
PBOC steps up rhetoric against long-end government bond rally
Texas Instruments gives solid forecast in sign of comeback