|
| |
Overview
HeadlinesBusiness Background Sheng Siong Group Ltd., an investment holding company, operates supermarkets in Singapore. The company’s stores offer an assortment of live, fresh, and chilled produce, such as seafood, meat, and vegetables; and packaged, processed, frozen, and/or preserved food products, as well as general merchandise, including toiletries and essential household products. It is also involved in general trading, and wholesale import and export businesses. The company operates approximately 43 supermarkets/grocery stores under the Sheng Siong brand name. Sheng Siong Group Ltd. was founded in 1985 and is headquartered in Singapore.
 Be the first to like this.   0549617 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. 04/09/2014 4:27 PM queenfit its proposal only.. can drop to 67 cents. No meaning to the right issue then? 04/09/2014 5:04 PM |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
