SINGAPORE - Mainboard-listed Hyflux said on Wednesday evening that the placement tranche of its perpetual securities offering had been oversubscribed.
The securities pay a coupon of 6 per cent per annum. The placement tranche was four times subscribed. As a result of the strong demand, the placement tranche was increased from $50 million to $165 million and closed within the first day.
The public offer remains open till 12 noon on May 25.
Hyflux's executive chairman and group chief executive officer Olivia Lum said: "The strong support from investors for the placement demonstrates confidence in our growth strategies and global leadership position in providing sustainable solutions in the areas of water and energy...in the last 18 months, our group has won several projects in the Middle East and Singapore, contributing to its order book which is at a record high of $3.7 billion. We remain firmly focused to seize opportunities in target markets including Asia, the Middle East, Africa and the Americas."