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Metal Component Engineering raising $3.3 mil via placement to fund growth into healthcare

The Edge Singapore
The Edge Singapore 11/18/2021 9:14 PM GMT+08  • 2 min read
Metal Component Engineering raising $3.3 mil via placement to fund growth into healthcare
"All further new investments will be synergistic to our current assets."
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Metal Component Engineering is raising $3.3 million in gross proceeds via a placement to fund its move into new business areas of healthcare and e-commerce.

Under terms of the placement, the company will issue 66.53 million new shares at 4.95 cents each, which is a discount of 9.5% to the volume-weighted average price of 5.47 cent on Nov 15.

The shares will be taken up by a group of 15 investors, including Dr Lim Cheok Peng, former CEO of Parkway Holdings and managing director of IHH Healthcare.

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