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Tat Hong retreated 6.5 cents after announcing a rights issue. What seems to be the problem?

Broker's Calls

Tat Hong retreated 6.5 cents after announcing a rights issue. What seems to be the problem?

Gwyneth Yeo Published on Wed, Nov 16, 2016 / 12:21 PM GMT+8

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SINGAPORE (Nov 16): Tat Hong Holdings announced a renounceable underwritten 1-for-5 rights issue to raise $41.1 million after trading hours on Monday. On Tuesday, the stock lost 6.5 cents, or 14.3% of its share value, to close at 39 cents.

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