Hong Leong Asia plans $145m share placement
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Hong Leong Asia plans to raise approximately $145 million through a placement of 50 million new ordinary shares at $2.90 each. The placement, which is not underwritten, will be offered to institutional and accredited investors. Net proceeds are estimated at $142.3 million after fees, with 80% allocated for corporate activities such as investments and acquisitions. The placement price reflects a 5.76% discount to the previous day's average price. Completion is subject to SGX-ST approval and must occur by May 11 unless extended.
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