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.

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