Raffles Education issues 338,461 shares after bond conversion

The conversion lifted issued shares to 1,530,727,865, with new shares set to trade on SGX-ST on 22 Jan.

Raffles Education said it has issued 338,461 new shares following the conversion of a portion of its convertible bonds.

The conversion was completed on 19 Jan., after bondholders converted convertible bonds with an aggregate principal amount of $22,000 at a conversion price of $0.065 per share.

Following the issuance, the company’s issued and paid-up share capital increased from 1,530,389,404 to 1,530,727,865 ordinary shares, with the new shares ranking pari passu with existing shares.

As a result of the conversion, Raffles Education’s outstanding convertible bonds were reduced from $39,418,204 to $39,396,204.

The conversion shares are expected to be listed and quoted on the SGX-ST Mainboard on 22 Jan., with trading scheduled to commence at 9:00 am the same day.

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