Home News Equity raising

iFast to raise $75 mil in share offer with up to 7% discount

Jovi Ho
Jovi Ho1/10/2022 10:51 AM GMT+08  • 2 min read
iFast to raise $75 mil in share offer with up to 7% discount
The company will use the proceeds to fund the proposed acquisition of BFC Bank Limited.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

iFast Corporation is raising $75 million by issuing 10 million new shares at a discount of between 4.5% and 7% from its last close of $7.85.

In documents seen by The Edge Singapore, the wealth management FinTech platform's base offer size is between 10.0 million and 10.3 million new shares, or some 3.6%-3.7% of existing outstanding shares, offered at between $7.30 and $7.50 per share.

iFast also announced a $30 million upsize option of some 4.1 million new shares, representing between 1.4%-1.5% of existing outstanding shares.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now