SINGAPORE (June 30): Mainboard-listed Asian Pay Television Trust (APTT) says that it will be fully utilising the $46.2 million raised from its rights issue.

Some $45.0 million will go towards the partial repayment of APTT’s offshore facilities. Another $1.2 million will be used to pay the expenses incurred with regard to the Rights Issue (compared to the $1.1 million as stated previously in April).

No amount will be used for working capital purposes.

APTT first announced that it has proposed a renounceable non-underwritten rights issue of 361,270,970 new units on April 28, with an issue price of 12.8 cents.

On June 22, the company announced that the rights issue was fully subscribed on June 18, with valid acceptances and excess applications received for 474,661,223 rights units.

Units in Asian Pay Television Trust closed flat at 12.7 cents.