Vin’s Holdings to raise $6m via share placement

The shares will be offered at $0.30 each.

Vin’s Holdings Ltd is seeking to raise gross proceeds of approximately $6m through a placement of 20 million new shares ahead of its proposed listing on the Catalist board of the Singapore Exchange (SGX).

The shares will be offered at $0.30 each. After deducting estimated placement-related expenses, the company expects to raise net proceeds of about $4m.

An application has been submitted to the SGX-ST for permission to deal in and list all shares of the company, including issued shares, placement shares, and award shares, on the Catalist board. The shares are expected to commence trading on 15 April.

RHB Bank Berhad is acting as the issue manager, full sponsor, and placement agent for the proposed listing.