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An update from Serial System Ltd ( (SG:S69) ) is now available.
Serial System Ltd has announced that its stake in its Catalist-listed subsidiary Serial Achieva Limited has been diluted after Serial Achieva issued 21,004,873 new ordinary shares to Hong Kong-based UFCT Technology Co., Limited at S$0.22 per share, raising about S$4.62 million at a premium to the recent market price. Following the share issuance, Serial System’s interest in Serial Achieva falls from 77.64% to 69.09%, though it retains control and will continue to consolidate the subsidiary, with the company stating that the dilution will not materially affect its net tangible assets or earnings per share for the 2026 financial year and that no directors or substantial shareholders have any interest in the transaction beyond their existing holdings.
More about Serial System Ltd
Serial System Ltd is a Singapore-incorporated group operating through subsidiaries including Serial Achieva Limited, which is listed on the Catalist Board of the Singapore Exchange. The Group is active in the regional electronics and technology supply chain, with a focus on distribution and related services for technology products in Asian markets.
Average Trading Volume: 4,175,416
Technical Sentiment Signal: Sell
Current Market Cap: S$59.13M
See more insights into S69 stock on TipRanks’ Stock Analysis page.