International Cement Group Ltd. (SG:KUO) has released an update.
International Cement Group Ltd. has announced a reallocation of the net proceeds from their recent share placement, originally earmarked for general working capital, to the construction of a new cement plant in Kazakhstan. The placement had resulted in S$3,074,239 in net proceeds after expenses, which will now be entirely used to fund the new long-term investment. The decision reflects the Company’s strategic move to deploy capital towards significant growth projects.
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