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The latest announcement is out from Serial System Ltd ( (SG:S69) ).
Serial Achieva Limited has entered into a subscription agreement with UFCT Technology Co., Limited for the issuance of 21,004,873 new ordinary shares at S$0.22 each, raising gross proceeds of about S$4.62 million. The new shares, representing roughly 11.01% of the enlarged share capital and priced at a 21.55% premium to the last traded volume-weighted average price, will expand the company’s equity base and may strengthen its financial flexibility and market positioning without diluting existing shareholders below their pro rata economic rights, as the shares rank pari passu with existing stock.
More about Serial System Ltd
Serial Achieva Limited, incorporated in Labuan, Malaysia, is part of Serial System Ltd and operates as a listed company on the Singapore Exchange. The group issues ordinary shares to support its capital needs and maintain its position in regional capital markets, with a shareholder base that includes institutional and strategic investors.
Average Trading Volume: 4,175,416
Technical Sentiment Signal: Sell
Current Market Cap: S$59.13M
For a thorough assessment of S69 stock, go to TipRanks’ Stock Analysis page.