Issue price is 30 cents for each share.
Raffles Education Corporation (REC) opens up 95 million placement shares for an issue price of 30 cents per share.
According to an announcement, the placement is expected to raise $28.5m.
REC intends to use the net proceeds of $28.2m to pay of 70-80% of loans and borrowings and fund 20-30% of general working capital.
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