CapAllianz to Raise Over SG$2 Million Via Share Placement; Shares Zoom 100%

MT Newswires

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CapAllianz (SGX:594) will place around 1.95 billion shares at SG$0.0011 apiece to raise around SG$2.1 million, according to a Friday filing with the Singapore Exchange.

The investment holding company says around SG$600,000 of the placement will go to three investors for cash, around SG$1.5 million to six creditors whose outstanding amounts will be offset against the shares and SG$24,000 will be for six employees against their salaries.

The remaining proceeds of about SG$554,000 will be used for general working capital.

Shares of the company surged over 100% in Monday trading.

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