MoneyMax Financial Services Raises SG$43.4 Million Through Share Issuance; Shares Up 4%

MT Newswires

04/27

MoneyMax Financial Services (SGX:5WJ) raised around SG$43.4 million through the issuance of 53 million shares at SG$0.835 per share, according to a Monday filing with the Singapore Exchange.

Proceeds raised from the exercise will be used to support the company's pawnbroking portfolio and purchase of retail inventory.

The company is looking to conclude the listing of the new shares by the first week of May, the filing added.

Shares of the retailer and trader of luxury products in Southeast Asia were up nearly 4% in Monday trading.

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