The company has proposed a share placement of up to 230m shares as well as a proposed subscription of a further 170m shares.
The new shares have been priced at SGD 0.135 each, which is a 10% discount to the last traded share price of SGD 0.15 prior to the stock’s suspension.
Vallianz said 70 to 80% of the net proceeds will go towards fleet expansion while the remaing amount will be used for general working capital.
Agents
