VCPlus (SGX:43E) entered into four agreements for the subscription of 2.2 billion new shares at an issue price of SG$0.0034 apiece, according to a Thursday filing with the Singapore Exchange.
The shares will be issued to investors Glipsal Industrial, HTG Group, Fang Yuyou, and Eastlink Co. Services, the filing said.
The total consideration amounts to SG$7.5 million, while the issue price represents a premium of 126.7%. The shares translate to 29.06% of the company's enlarged issued share capital following the issue.
Proceeds raised from the subscription will fund the group's business growth and for working capital needs.
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