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Global Yellow Pages gets SGX nod for shares, warrants issue

Published on May 11, 2014 9:32 PM

SINGAPORE - Global Yellow Pages said on Sunday that it has received in-principle approval from the Singapore Exchange (SGX) to issue new shares, rights shares and warrants to fund its proposed acquisition of the Gloria Jean's Coffees chain.

The SGX granted approval on Friday for Global Yellow Pages to issue up to 116.3 million shares at seven cents per share as part of the payment for the coffee chain.

The Singapore-listed publisher of business and trade directories said in December it would pay A$35.6 million (S$40.7 million) for the acquisition.

The SGX also gave the green light for Global Yellow Pages' rights-cum-warrants issue and placement of new shares, which it is undertaking to help pay for the purchase.

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