Catalist-listed Koh Brothers Eco Engineering will welcome a new investor, Penta-Ocean Construction, through a private placement at 4.7 cents per share.
The group, on March 15, entered into a share subscription agreement with Penta-Ocean Construction Co, where the latter will subscribe for 810 million shares for a consideration of $38.07 million.
Penta-Ocean is a leading Japanese construction firm that specialises in coastal and waterfront projects. It is listed on the Tokyo Stock Exchange with offices around the world including Singapore, Japan, Hong Kong, Egypt, Malaysia and Thailand.
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