SINGAPORE (Oct 3): Y Ventures Group has appointed Evolve Capital Asia as a financial advisor to conduct a strategic review of the company.

The strategic review will includes Y Ventures’ current investments, mergers and acquisitions, and joint ventures.

In a bourse filing on Thursday, the Catalist-listed e-commerce retailer says there is no assurance that any transaction will materialise from the strategic review.

Y Ventures earlier last week on Sept 23 said it is seeking to raise $2.0 million in a proposed placement of 24.7 million new shares at 8.12 cents each.

The group added that it had entered into subscription agreements with nine investors for the allotment and issue of the new shares.

The placement price represents a discount of 9.98% to the volume weighted average price of 9.02 cents for all trades in the counter on Sept 17 – the full market day immediately preceding the date of signing of the subscription agreements.

The group said some $1 million of the net proceeds of the proposed placement will be used for expansion of its business through potential mergers and acquisitions, joint ventures, strategic collaborations and investments.

The remaining $976,892 will be used to fund the general working capital requirements of the group, it added.

<hr/><a href="https://www.theedgesingapore.com/capital/equity-raising/y-ventures-raise-2-mil-proposed-placement-247-mil-new-shares-be-issued-812" target="_blank">See: Y Ventures to raise $2 mil from proposed placement; 24.7 mil new shares to be issued at 8.12 cents each</a><hr/>

Shares in Y Ventures closed flat at 11.3 cents on Wednesday.

Y Ventures appoints financial advisor to conduct strategic review

VTAC proposes business combination with live streaming platform 17LIVE

Data is the new oil but is it as dirty?

'Transition credits' could sweeten deal for early retirement of coal-fired power plants: MAS, McKinsey paper

DPM Lawrence Wong appointed as GIC’s deputy chairman

Will the Rising Sun keep rising?

CGS-CIMB keeps 'add' call and $8.97 on CDL following accretive purchase of Japan assets

UOBKH adds Marco Polo Marine and RH Petrogas, removes Delfi, LHN Group and Yangzijiang from October alpha picks

Y Ventures appoints financial advisor to conduct strategic review

Related News

Highlights

VTAC proposes business combination with live streaming platform 17LIVE

Related News

Keppel Infra Trust to appoint financial adviser for its strategic review in Ixom

Serial System raises $1.35 mil through placement of 9 mil shares

ABS and SGX RegCo enhance due diligence standards for SGX listing process