ASTI Raises S$3.2 Million via Share Placement to Fund Expansion and R&D

ASTI Holdings Limited ( (SG:575) ) has issued an update.

ASTI Holdings Limited has completed a placement of 128 million new ordinary shares at S$0.025 each, raising S$3.2 million in gross proceeds and expanding its issued share capital by about 16.35%. Priced at a significant premium to its last traded market level before the 2022 trading suspension but at a discount to its audited net tangible assets, the fundraising is intended to bolster the Group’s business expansion, potential new ventures with existing customers, research and development efforts and working capital, underscoring its efforts to strengthen growth capabilities and operational resilience ahead of a potential resumption of trading.

More about ASTI Holdings Limited

ASTI Holdings Limited is a Singapore-incorporated company listed on SGX, operating through a group structure and focused on technology-related businesses that require ongoing research and development and collaboration with existing customers. The Group’s activities are capital-intensive and growth-oriented, relying on equity funding to support business expansion, R&D initiatives and working capital needs.

Current Market Cap: S$9.17M

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