Beverly JCG (SGX:9QX) entered into a subscription agreement with Leow Hoi Loong for the subscription of 11,904,761 shares at an issue price of SG$0.0084 per share, according to a filing with the Singapore Exchange on Tuesday.
The company will use the gross proceeds of SG$100,000 for working capital and to fund the expansion of its medical aesthetics and healthcare business, it said in the filing.
Shares of the company slumped 10% in recent trading.
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