Singapore's MYP slashes rights offering by half

singapore px230
By John Loh
07 Dec 2016

Singapore-listed MYP has halved its rights issue to S$97.9m ($68.8m) after shareholders gave the fundraising the cold shoulder.

The real estate company had sought to raise S$188.7m from shareholders to help fund its acquisition of the Straits Trading Building in Singapore. The offering comprised 1.05bn new shares at S$0.18 apiece, a discount of 33.3% to the stock’s S$0.27 August 31 close, and a 20% discount to the ...

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