iFast prices private placement at top end of range; raises S$105m

IFAST Corporation on Tuesday (Jan 11) priced its private placement at S$7.50 per share, which is at the top end of its price range.

In a bourse filing, the wealth management platform said it had raised gross proceeds of S$105 million via the placement on Monday (Jan 10), bringing the total number of shares to be issued to 14 million.

The placement will be used to fund the proposed acquisition of a majority stake in BFC Bank, of which the company said would help accelerate the growth of its overall wealth management business.

iFast's chief executive Lim Chung Chun sai…

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