ICP places 460m new shares at 0.85 Singapore cent apiece to CMIA

Singapore

HOTEL management company ICP has placed S$3.9 million worth of new shares representing a 14.78 per cent post-deal stake to private equity firm CMIA Capital Partners.

The 460 million new ICP shares were priced at 0.85 Singapore cent apiece, which was a discount of about 3.41 per cent to the stock's 0.88 Singapore cent volume weighted average price on Jan 10. The shares traded at 0.8 Singapore cent at 9.21am on Monday, down by 11.1 per cent or 0.1 Singapore cent, before closing unchanged at 0.9 Singapore cent.