Hong Lai Huat Group Updates Proposed Placement with Fixed Issue Price
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.
An announcement from Hong Lai Huat Group Limited ( (SG:CTO) ) is now available.
Hong Lai Huat Group Limited announced an update regarding its proposed placement, where the company has decided to replace the pricing formula with a fixed issue price of S$0.03 per placement share. This decision follows feedback from shareholders seeking certainty on the issue price before voting on the proposed placement and the Whitewash Resolution. The Securities Industry Council has approved this change, subject to conditions such as an independent financial adviser’s review and potential shareholder approval if the fixed price exceeds a certain discount threshold. This development aims to provide clarity and assurance to stakeholders ahead of the Extraordinary General Meeting.
More about Hong Lai Huat Group Limited
Hong Lai Huat Group Limited is a company incorporated in Singapore and listed on the SGX Mainboard. It operates in various sectors, focusing on real estate development and agriculture, with a significant market presence in Singapore and the region.
Average Trading Volume: 144,535
Technical Sentiment Consensus Rating: Hold
Current Market Cap: S$31.07M
For an in-depth examination of CTO stock, go to TipRanks’ Stock Analysis page.
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