Advanced Systems Automation (SGX:WJ9) will launch a renounceable rights cum warrants issue to raise funds, according to a Thursday filing on the Singapore Exchange.
The company plans to issue 1.09 billion new shares at SG$0.005 each, with 729 million detachable warrants priced at SG$0.003 per share.
The issue is structured on a 3-for-2 basis for rights shares and 2-for-3 for warrants. Proceeds will support the LSO acquisition and improve working capital.
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