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Sheng Siong placing out 120 m shares to raise $80.4 mil for Singapore expansion plans

Published on Sep 4, 2014 11:35 AM
 
Supermarket chain operator Sheng Siong is placing out $80.4 million worth of new shares to fund its expansion plans here. -- PHOTO: ST FILE

SINGAPORE - Supermarket chain operator Sheng Siong is placing out $80.4 million worth of new shares to fund its expansion plans here.

The company said early on Thursday that it will offer 120 million shares by way of a placement at an issue price of 67 cents per share.

The price of the placement shares represents a discount of about 5.37 per cent to the volume weighted average price of 70.8 cents on Wednesday, which was the last trading day before the placement agreement was signed.

The placement shares represent about 8.67 per cent of the company's current issued share capital of 1,383,537,000 shares.

 
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