First Sponsor Redirects Rights Issue Proceeds to Business Expansion

MT Newswires

2024/11/14

First Sponsor Group (SGX:ADN) will reallocate the proceeds from its recent rights issue, originally earmarked for a proposed transaction, towards the expansion of its property development, holding, and financing businesses, according to a Tuesday filing on the Singapore Exchange.

The company, which had previously intended to use up to SG$120 million for the transaction, will now direct these funds to strengthen its core business activities.

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