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ValueMax expects to raise $41.7 mil with 1-for-5 rights issue

Felicia Tan
Felicia Tan4/13/2021 07:39 PM GMT+08  • 2 min read
ValueMax expects to raise $41.7 mil with 1-for-5 rights issue
For every five existing ValueMax shares, shareholders are entitled to subscribe to one rights share at 36 cents per rights share.
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ValueMax says it expects to raise some $41.7 million through a one-for-five rights issue to shareholders. The rights issue, shares the group, is meant to strengthen the group’s financial position and capital base.

In a statement dated April 13, the group says it is presently exploring “alternative means of fundraising” in addition to external borrowings and issuing debt instruments to boost the group’s balance sheet.

The group, on the same day, says it is proposing to undertake a non-renounceable non-underwritten rights issue of up to 116.4 million new ordinary shares in the capital of the company.

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