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Sysma Holdings places out 23.5 million shares at 27 cents apiece

Published on Apr 9, 2014 6:46 PM

SINGAPORE - Sysma Holdings has placed out 23.5 million new shares at 27 cents apiece to private investors.

The placement, which is expected to raise gross proceeds of some $6.34 million and net proceeds of about $6.1 million, is to raise funds for business expansion purposes.

They will be used to fund the group's property development business, acquisitions, investments, joint ventures and/or other collaborations, as well as for general working capital purposes.

The placement price represented a 9.9 per cent discount to the volume weighted average price of 29.96 cents for trades done for the full market day on April 4.

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