Bromat Holdings to Raise Nearly SG$3 Million Via Placement
MT Newswires
Aug 27
Bromat Holdings (SGX:9I7) entered into a binding conditional term sheet to place around 32.9 million new shares to Jiaxing Aoze Investment Partnership at SG$0.085 apiece, raising gross proceeds of about SG$2.8 million, according to a Thursday filing with the Singapore Exchange.
The food and beverage group intends to use 60% of the net proceeds for business expansion and the remaining 40% for general working capital needs.
The investor will acquire a stake of around 6.77% in the placement, the filing said.
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