Koh Brothers Eco Engineering (SGX:5HV) subscribed to an additional 30 million shares in wholly owned subsidiary, Koh Brothers Building and Civil Engineering Contractor, for a total consideration of SG$30.0 million, according to a filing with the Singapore Exchange on Thursday.
The total consideration was satisfied in full by capitalizing SG$30.0 million from part of a loan amount payable by the subsidiary to Koh Brothers Eco Engineering, the filing said.
Following the issue, the company's share capital has increased from SG$65.0 million to SG$95.0 million.
Shares of the group rose 4% in recent trading.
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