ETC Singapore Announces Major Convertible Bond Issue

Emerging Towns & Cities Singapore Ltd (SG:1C0) has released an update.

Emerging Towns & Cities Singapore Ltd has announced entering into subscription agreements on 26 July 2024 for the issue of convertible bonds, with a collective principal amount of S$4,500,000. These bonds are convertible into approximately 968 million new ordinary shares, potentially increasing the company’s issued and paid-up share capital by 40.50% upon conversion. The move is part of the company’s efforts to raise funds and incentivize group employees.

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