Clearbridge Health (SGX:1H3) completed the placement of 309.5 million shares to Ong Choon Yi, according to a filing with the Singapore Exchange on Friday.
In an earlier filing, the company announced that it had entered into a subscription agreement with Yi for the subscription of the shares at an issue price of SG$0.0031 per share and an aggregate consideration of SG$959,450.
Proceeds raised from the placement will be used for general working capital and repayment of existing borrowings.
Shares of the integrated healthcare group plunged 25% in recent trading.
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