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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.
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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.

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