Trendlines: Proposed rights issue at 19.3% premium a better gauge of its value

Singapore

STARTUP incubator The Trendlines Group has said that its current market price "does not properly reflect the company's value", and that its proposed rights issue priced at a 19.3 per cent premium to the counter's last trading price of 8.8 Singapore cents on Sept 26 would be a better gauge of the company's value.

This was in response to the Singapore Exchange (SGX) asking why the Catalist-listed firm had proposed a rights issue at such a premium, and the rationale for shareholders to subscribe for these shares when they could purchase them from the market at a lower price.