Hiap Seng’s Rights Issue Sees Over 50% Subscription

Hiap Seng Industries Limited (SG:1L2) has released an update.

Hiap Seng Industries Limited has announced the results of its renounceable non-underwritten rights issue, which saw 54.50% subscription for the 607,500,000 new ordinary shares offered. Valid acceptances accounted for 37.81% of the Rights Shares, while excess applications were at 16.69%, indicating a moderate interest from shareholders. The initiative was part of the company’s broader financial restructuring efforts and capital raising activities.

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