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An announcement from FJ Benjamin Holdings Ltd. ( (SG:F10) ) is now available.
F J Benjamin Holdings has reallocated the remaining S$3.01 million in net proceeds from its 2018 Rights cum Warrants issue and subsequent warrant exercises. The funds, originally earmarked for expanding the Group’s business activities, have been redirected to general working capital needs.
The Board said the move reflects the Group’s current challenging operating environment and operational requirements. The entire S$3.01 million has now been fully utilised to repay a bank-financed working capital loan, effectively shifting the use of capital from growth initiatives to balance-sheet and liquidity support.
The most recent analyst rating on (SG:F10) stock is a Hold with a S$0.01 price target. To see the full list of analyst forecasts on FJ Benjamin Holdings Ltd. stock, see the SG:F10 Stock Forecast page.
More about FJ Benjamin Holdings Ltd.
F J Benjamin Holdings Ltd is a Singapore-incorporated company operating through a group structure. The Group is engaged in retail and related business activities, with operations that require significant working capital and access to bank financing to support its ongoing activities in a challenging operating environment.
Average Trading Volume: 436,992
Technical Sentiment Signal: Sell
Current Market Cap: S$11.87M
Find detailed analytics on F10 stock on TipRanks’ Stock Analysis page.