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Salt Investments raises $7m in 2.8 billion share placement
The shares were sold at $0.0025 each.
Salt Investments has raised $7m through the placement of 2.8 billion ordinary shares at $0.0025 each, representing a 16.7% discount to its last traded price of $0.003 on 30 May.
Investors involved in the placement issue include SGX chairman Koh Boon Hwee and Terence Wong of Azure Capital.
Estimated net proceeds of $6.85m will be used to support business expansion, growth, and development, as well as to enhance the company’s liquidity and fund working capital needs.
The transaction is expected to result in a loss per share of $0.0034.
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