In an effort to accelerate the growth of its consumer-centric businesses in Singapore, KTL Global will be raising about $3.1 million from a proposed share placement exercise.
Under the terms of the share placement, KTL will issue 30 million new ordinary shares at an issue price of 10.3 cents per share, which represents a discount of approximately 9.9% to the volume weighted average price of 11.43 cents for trades done on the ordinary shares in the company on SGX for the full market day on July 13.
The proceeds will be used for business expansion and working capital purposes in relation to the Group’s growth plans of its consumer-centric businesses in Singapore.
