Tritech (SGX:5G9) entered into debt conversion agreements with two lenders for outstanding debts, at a conversion price of SG$0.0130 per share, according to a Thursday filing with the Singapore Exchange.
Shares of the integrated manufacturing company surged nearly 13% in Friday trading.
The lenders include Lee Sui Hee, who has a 6.59% stake in the company, and is owed around SG$5.7 million and Zhou Xinping, an executive director who has a 0.001% stake and is owed around SG$352,389.
The debt conversion agreements will allow the company to reduce its indebtedness and improve its debt-equity ratio.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.