Company Briefs: Aspial Corporation

Aspial Corporation

Aspial Corporation's second retail bond offering of four-year, 5.3 per cent bonds had an overall subscription rate of approximately four times the original offer size of $75 million.

The public offer of $50 million, which closed on March 30, received $254 million of valid applications, representing a subscription rate of five times the original offer size.

In view of the strong response, the total issue size of the public offer was increased to $175 million. All applicants were given an allocation but the amount they had asked for was mostly scaled back.

The $25 million placement tranche offered to private banking, institutional and other investors was oversubscribed on the first day of its launch.

The bonds are expected to be issued today and are due to start trading on the main board of the Singapore Exchange at 9am on April 4.

Frasers Property

Park Gallery, a townhouse development located at Cova on Australia's Hope Island, is sold out.

Since launching Park Gallery in November, Frasers Property Australia has achieved more than A$28.7 million (S$29.6 million) in sales.

The townhouses consist of three bedrooms and two bathrooms with a single or double garage space.

Frasers Property partnered Hutchinson Builders to complete the release, with settlements due in the third quarter.

Singapore Technologies Engineering

ST Engineering's aerospace arm, ST Aerospace, has injected $4.03 million into the capital of its joint venture, ST Aerospace Aircraft Seats, for its operations.

This injection is part of ST Aerospace's planned investment in the joint venture, bringing its total investment to $9.324 million.

ST Aerospace Aircraft Seats is involved in the end-to-end design and manufacturing of a range of aircraft seating solutions.

A version of this article appeared in the print edition of The Straits Times on April 01, 2016, with the headline 'CompanyBriefs'. Print Edition | Subscribe