Sanli Environmental launches $10m share placement to boost capital
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Sanli Environmental Limited has signed a placement agreement with SAC Capital Private Limited to issue over 38 million new ordinary shares at $0.260 each, raising $10m. The funds will be used for working capital and debt reduction. Net proceeds are estimated at $9.59m. The placement shares represent 12.75% of the current issued capital and 11.31% of the enlarged capital. Net tangible assets will rise to $42.3m, but earnings per share will decline due to the enlarged share base.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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