Annica Holdings Launches Up to SG$5.2 Million Rights Issue

MT Newswires

06/05

Annica Holdings (SGX:JFQ) lodged an offer information statement for a renounceable non-underwritten rights issue to raise up to SG$5.2 million in net proceeds, according to a Friday filing with the Singapore Exchange.

The renewable energy firm will issue up to 168.5 million shares at SG$0.034 per share, on the basis of six rights shares for every five existing shares held.

Proceeds raised from the issue will be used for renewable energy project development, working capital, debt reduction and for general corporate purposes.

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