SINGAPORE - The Trendlines Group said on Wednesday (Oct 25) that it has raised net proceeds of S$13.34 million through a share placement to prominent corporate and individual investors.
The Israel-based start-up incubation business placed out 100 million new shares at 14.03 Singapore cents apiece.
Private German healthcare firm B. Braun Melsungen AG, the cornerstone investor in Trendlines' November 2015 initial public offering, participated in the placement, alongside other subscribers such as Asdew Acquisitions, Island Asset Management, ICH Capital, Lumiere Capital, Azure Capital, and Emerald Investment Management.
Net proceeds will be used for general working capital as well as for investment in new, prospective and existing portfolio companies.
Earlier this month, Trendlines said it is conducting a strategic review of its operations, including the possible implementation of a dividend policy.
The stock closed up 0.6 cents or 3.97 per cent at 15.7 Singapore cents on Wednesday, before the announcement was made.