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Matex International Limited ( (SG:M15) ) has shared an update.
Matex International Limited has entered into a subscription agreement with Ascentas Capital Management Limited and individual investor Li Baohua for the issuance of S$4.158 million in unsecured convertible notes, which can be converted into up to 210 million new ordinary shares at a specified conversion price. The notes, which will not be listed on any exchange and involve no placement agent, are being issued under prospectus exemptions in Singapore and are structured so as not to transfer control or involve related parties, with the company seeking SGX approval for listing and quotation of the resulting conversion shares on the Catalist board, implying a potential future equity dilution but also providing fresh funding without immediate change in control.
The most recent analyst rating on (SG:M15) stock is a Sell with a S$0.02 price target. To see the full list of analyst forecasts on Matex International Limited stock, see the SG:M15 Stock Forecast page.
More about Matex International Limited
Matex International Limited, incorporated in Singapore and listed on the Catalist board of the SGX-ST, operates through a group structure but the specific industry and product lines are not disclosed in this announcement. The company’s shares are traded on the Singapore Exchange’s Catalist market, and it raises capital from institutional and individual investors under the local securities framework.
Technical Sentiment Signal: Sell
Current Market Cap: S$11.35M
Learn more about M15 stock on TipRanks’ Stock Analysis page.