Trendlines raises S$14m in share placement from investors including B Braun

THE Trendlines Group said on Wednesday that it has raised S$14.03 million through its share placement announced on Oct 10.

The Catalist-listed, Israel-based startup incubator for medical and agricultural technologies had alloted 100 million new ordinary shares at S$0.1403 per share.

Trendlines said that the placement was well subscribed by a good mix of institutional, corporate and individual investors.

These include B Braun (the cornerstone investor in Trendlines' initial public offering in November 2015), Asdew Acquisitions, Island Asset Management, ICH Capital, Lumiere Capital, Azure Capital and Emerald Investment Management.

Net proceeds of about S$13.34 million will be used for the group's general working capital and direct and indirect investment in new, prospective and existing portfolio companies.