Tritech Group enters into agreement for share placement worth S$2.02m

SINGAPORE-LISTED Tritech Group said on Monday it has entered into a placement agreement with an individual investor. Under the agreement, the investor will subscribe and pay S$0.07 for each of the 28.8 million new shares.

The agreement, worth S$2.02 million, was entered into on June 2.

The proposed placement of 28.8 million new shares is about 3.17 per cent of the enlarged share capital of the company.

The company said in a filing on Singapore Exchange that proceeds from the proposed placement would be used for working capital requirements "which may arise from the growth of its water-related business of the group".