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Yongnam seeks to raise $7.9 mil via proposed placement of up to 104 mil new shares

Atiqah Mokhtar
Atiqah Mokhtar4/13/2021 5:54 PM GMT+08  • 1 min read
Yongnam seeks to raise $7.9 mil via proposed placement of up to 104 mil new shares
The proposed placement will be at an issue price of 7.6 cents per share.
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Yongnam Holdings is looking to raise $7.94 million through the proposed placement of 104.52 million new ordinary shares in the capital of the company, at an issue price of 7.6 cents per share.

The issue price represents a discount of approximately 9.85% to the volume weighted average price (VWAP) for trades done on April 12.

The placement agreement was entered into with W Capital Markets on April 13.

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