SINGAPORE (Mar 16): Cancer solution specialist Biolidics is raising $3.13 million from a share placement exercise mainly to expand the group’s businesses.

Under the terms of the share placement, the group will issue about 17.9 million new ordinary shares at 17.5 cents per share, which represents about 7.3% discount to its volume weighted average price of 18.9 cents per share as at the close of Mar 13.

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