Asiamedic Limited (SG:505) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Asiamedic Limited has utilized a significant portion of the net proceeds from its January 2020 rights issue, mainly for reducing group indebtedness and for general corporate purposes including capital expenditures. Out of the total S$8.523 million allocated, S$7.9 million has been spent, leaving a balance of S$421,000. The spending aligns with the company’s planned allocation, and further updates will be provided when the remaining balance is substantially used.
For further insights into SG:505 stock, check out TipRanks’ Stock Analysis page.