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0.915   +0.005 (0.55%)  0.91 - 0.915  462,200
6 comment(s). Last comment by queenfit at Sep 4, 2014 05:04 PM
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queenfit
4 posts

Posted by queenfit > Sep 4, 2014 01:41 PM | Report Abuse

any idea why drop so much today?


0549617
4 posts

Posted by 0549617 > Sep 4, 2014 04:24 PM | Report Abuse

right issue


0549617
4 posts

Posted by 0549617 > Sep 4, 2014 04:27 PM | Report Abuse

Sheng Siong Group is proposing to place out 120 million shares at 67 cents each.

The placement price represents a discount of 5.37% to the volume weighted average price of $0.708 for trades done on the SGX on Sep 3.

The placement shares represent 7.98% of the enlarged issued share capital of 1.5 billion shares after the issuance and allotment of the new shares.

The placement will allow the company to raise gross proceeds of $80.4 million.

The group intends to use 98% to 99% of the gross proceeds will be used to finance the future expansion plans of the group in Singapore which includes the acquisition of properties for new retail outlets.

Sheng Siong says it intends to continue to distribute up to 90% of its net profit after tax to its shareholders for the financial years ending 31 December 2015 and 31 December 2016 as dividends.


queenfit
4 posts

Posted by queenfit > Sep 4, 2014 05:04 PM | Report Abuse

its proposal only.. can drop to 67 cents. No meaning to the right issue then?

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