GKE raises $8.53m to fund expansion

It will focus on its warehousing and logistics segment.

GKE Corporation has completed the share placement of 88.12 million new ordinary shares for 9.68 apiece, raising gross proceeds of $8.53m.

The share placement was fully subscribed and attracted institutional investors, including ICH Capital, Asdew Acquisitions, and Astral Value Fund VCC, as well as accredited investors.

The company said the proceeds will be for its business expansion plans locally and internationally, with a focus on its warehousing and logistics segment.

One of the expansions involves the planned asset enhancement at 7 Kwong Min Road, owned and managed by its wholly-owned subsidiary GKE Marquis.

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