JB Foods Ltd. ( (SG:BEW) ) has shared an update.
JB Foods Limited has announced a proposed renounceable non-underwritten rights issue to raise funds by issuing up to 43,314,280 new ordinary shares at S$0.45 each, allowing entitled shareholders to purchase one rights share for every seven existing shares. This announcement includes a revision in the irrevocable undertakings, where JBC will renounce its entitlement to a portion of its rights shares in favor of TYJ, which has committed to fully subscribe and pay for these shares. This strategic move is likely designed to strengthen the company’s capital structure and support its future growth initiatives.
More about JB Foods Ltd.
JB Foods Limited is a company based in Singapore, primarily operating in the food industry. It focuses on producing and distributing various food products, catering to both local and international markets.
YTD Price Performance: -10.0%
Average Trading Volume: 24,300
Technical Sentiment Consensus Rating: Buy
Current Market Cap: S$136.4M
Find detailed analytics on BEW stock on TipRanks’ Stock Analysis page.