Hong Lai Huat Group Updates Proposed Placement with Fixed Issue Price
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Hong Lai Huat Group Limited has updated its proposed placement by replacing the pricing formula with a fixed issue price of S$0.03 per share. This change responds to shareholder feedback for price certainty before voting on the placement and Whitewash Resolution. The Securities Industry Council has approved this adjustment, contingent on an independent financial adviser’s review and possible shareholder approval if the fixed price exceeds a discount threshold. This aims to provide clarity ahead of the Extraordinary General Meeting.
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