
Tiong Seng Holdings increases share capital with $2m placement
The placement agreement was signed with Continental Steel Pte Ltd, one of Southeast Asia’s premier steel suppliers.
Tiong Seng Holdings announced a proposed placement of 20 million new ordinary shares at $0.10 per share, raising a total of $2m.
It said issuance will increase the company’s share capital from 441 million to 461 million shares, with the new shares representing 4.34% of the enlarged share capital.
The placement agreement was signed with Continental Steel Pte Ltd, one of Southeast Asia’s premier steel suppliers known for its sustainability initiatives, including green steel production.