iX Biopharma to Raise At Least S$6 Million via Share Placement

An update from iX Biopharma Ltd. ( (SG:42C) ) is now available.

iX Biopharma has entered into a placement agreement with Oversea-Chinese Banking Corporation to raise at least S$6 million through a non-underwritten share placement. The deal will see new ordinary shares offered at S$0.198 each to institutional and accredited investors in Singapore under an exempt offering structure.

iX Biopharma expects to issue a minimum of 30,303,100 new shares, representing about 3.16% of its current share capital and 3.06% of its enlarged capital post-placement. The company has also included an upsize option for additional shares, and the new stock will be freely transferable and rank pari passu with existing shares, modestly diluting current shareholders while bolstering capital resources.

The most recent analyst rating on (SG:42C) stock is a Hold with a S$0.19 price target. To see the full list of analyst forecasts on iX Biopharma Ltd. stock, see the SG:42C Stock Forecast page.

More about iX Biopharma Ltd.

iX Biopharma Ltd. is a Singapore-incorporated company operating in the biopharmaceutical sector. It develops and commercialises pharmaceutical products and related therapies, with its shares listed in Singapore and a capital structure comprising fully paid-up ordinary shares held by public investors.

Average Trading Volume: 13,965,853

Technical Sentiment Signal: Buy

Current Market Cap: S$211.1M

For an in-depth examination of 42C stock, go to TipRanks’ Overview page.