Sinostar PEC Holdings Limited (SG:C9Q) has released an update.
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Sinostar PEC Holdings Limited has announced that the Singapore Exchange Securities Trading Limited (SGX-ST) has granted approval-in-principle for a proposed rights issue of 320 million new shares, priced at S$0.14 each. This capital-raising exercise, offered on a basis of one new share for every two existing shares, comes with conditions including compliance with listing rules and transparency in the use of the proceeds. The company has provided necessary undertakings to the SGX-ST to meet these conditions.
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