Soilbuild Construction (SGX:S7P) said 172.5 million warrants have been exercised at SG$0.073 per share, generating nearly SG$12.6 million in proceeds, according to a Monday filing on the Singapore Exchange.

The company reminded warrant holders that the rights to subscribe for new shares under the warrants will expire at 5 pm on July 29.

As of Monday, 13.2 million warrants remain outstanding, representing 7.1% of the total issued.

Controlling shareholder and executive chairman Lim Chap Huat, along with executive director Lim Han Ren, have fully exercised their respective warrants, raising about SG$11.4 million.