FJ Benjamin (SGX:F10) expects to raise around SG$302,400 via the placement of 42 million shares at SG$0.0072 each to two investors, according to a Monday filing with the Singapore Exchange.
Proceeds will be directed towards working capital.
Shares of the luxury products retailer surged nearly 13% in Monday trading.
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.