Raffles Education Allots, Issues Shares After Conversion of Convertible Bonds; Shares Down 3%

MT Newswires

Nov 26

Raffles Education (SGX:NR7) allotted and issued 2 million and 21 million conversion shares on Nov. 3 and Nov. 20, respectively, at SG$0.065 per share following the conversion of two convertible bonds amounting to SG$130,000 and SG$1.4 million, according to a Tuesday filing with the Singapore Exchange.

Shares of the company were down nearly 3% in Wednesday's midday trade.

Following the issue, the convertible bonds were cancelled and the total convertible bonds have decreased to SG$42.3 million.

The new conversion shares were listed and quoted on the SGX-ST on Nov. 26, the filing added.

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