Shares of The Straits Trading Company (SGX:S20) surged 3.31% during Tuesday's intraday trading session, as the company announced the launch of its fourth series of three-month commercial paper in digital securities on the SDAX platform.
According to a filing with the Singapore Exchange, the new commercial paper series offers an interest rate of 3.20% per year. The company expects to raise between SG$5 million and SG$10 million through this issuance, with the bonds set to mature approximately three months from the date of issuance.
The market's positive reaction to this news suggests investors are optimistic about Straits Trading's financial strategy and its ability to raise capital efficiently. The use of digital securities on the SDAX platform also indicates the company's embrace of innovative financial technologies, which may be contributing to investor enthusiasm. As companies continue to seek diverse funding sources in the current economic climate, Straits Trading's successful commercial paper program appears to be resonating well with the market.
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