Singapore eDevelopment proposes rights and warrants issue to raise up to $112m

To strenghten its footfold in property development and IT.

Singapore eDevelopment is planning to issue almost 4 million new shares to raise up to $112m.

The issue is composed of almost 2 million rights shares and almost 2 million free detachable warrants.

Singapore eDevelopment said that the proposed rights Issue will raise funds to strengthen the capital base of the company and allow it to take better advantage of opportunities in property development and IT, as well as allow it to expand its investment businesses.

The issue is still subject to shareholder approval.
 

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