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JES International to place out 50 million new shares to raise $7.2 million

Published on Mar 4, 2014 4:01 PM

JES International Holdings has agreed to place out new shares to Merlion Capital, Mr Lee Loi Sing, YA Global Master and Mr Yin Xiangdong.

Together, they will subscribe for 50 million new shares at 14.463 cents each.

The price represents a discount of about 10 per cent to the weighted average price of 16.07 cents on Feb 27, being the last full market day immediately preceding the date on which the agreement was signed.

The placement will raise gross proceeds of some $7.2 million and will be used towards the company's general working capital.

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