Raffles Education Limited (SGX: NR7) has converted a further tranche of its outstanding convertible bonds, allotting 207,692 new ordinary shares at a conversion price of SGD 0.065 per share. The conversion, effected on July 20, 2026, corresponds to SGD 13,500 in principal amount of bonds, in line with the terms of the Convertible Bonds Trust Deed dated August 30, 2022.

Following the issuance, the group’s issued and paid-up share capital has risen to 1,819,443,626 shares from 1,819,235,934 shares previously. Concurrently, the outstanding principal of the company’s convertible bonds has been reduced to SGD 38.37 million from SGD 38.38 million.

The newly issued shares rank pari passu with existing ordinary shares and will be listed and quoted on the SGX Mainboard on July 23, 2026, with trading set to commence at 9:00 a.m.

The conversion forms part of the ongoing rights issue and placement of convertible bonds first announced in June 2022, under which bondholders may exchange their holdings for equity at predetermined terms.