Triyards in placement to raise S$19.96m

TRIYARDS Holdings will be placing up to 29.5 million new shares at 70 Singapore cents each to raise net proceeds of S$19.96 million to support future growth and to augment its working capital.

The engineering and fa-brication solutions provider, whose focus is on the offshore oil and gas industry, has appointed UOB Kay Hian as the placement agent.

The issue price is a discount of about 8.33 per cent to the volume weighted average price of 76.36 Singapore cents per share for trades done on Monday - the day before the trading halt of the shares.