$6.3m in deposits owed to oBike users in Singapore; company unable to meet July 4 deadline to clear bikes

Shared-bicycle firm oBike intends to refund users in Singapore their deposits and has turned to its shareholders to raise the funds, said founding investor and chairman Shi Yi.
Shared-bicycle firm oBike intends to refund users in Singapore their deposits and has turned to its shareholders to raise the funds, said founding investor and chairman Shi Yi.ST PHOTO: KUA CHEE SIONG

SINGAPORE - About US$4.6 million (S$6.3 million) in deposits is owed to users by troubled shared-bicycle firm oBike, the company's founding investor and chairman Shi Yi told The Straits Times on Monday (July 2).

Mr Shi said oBike intends to refund users in Singapore their deposits and has turned to its shareholders to raise the money.

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