Asiamedic Limited (SG:505) has released an update.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
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.