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First Sponsor raises $244m from oversubscribed rights issue

It issued the securities for $1.08 piece.

First Sponsor raised $244m from its over-subscribed rights issue.

The developer issued 225,910,315 Series 3 Convertible Securities under its rights issues.

It, however, received valid acceptances and excess applications for 235,931,493 Series 3 Convertible Securities. 

First Sponsor issued the securities for $1.08 per piece.
 

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