MetaOptics (SGX:9MT) is targeting to raise around SG$4.9 million through the placement of around 6.7 million shares at SG$0.7255 per share, according to a Monday filing with the Singapore Exchange.
Proceeds from the placement will be utilized to strengthen the company's financial position, manage growth pipeline and improve liquidity.
Shares of the designer and manufacturer of metaoptics components jumped over 15% in Monday trading.
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