Asiatravel proposes placement to raise nearly $1 mil to develop augmented reality tours

SINGAPORE (Mar 22): Asiatravel.com has entered into conditional share and warrant placement agreements with Jacfun and Yalla.Digital Inc. that will see the company raise close to $1 million to increase its general working capital and develop its augmented reality (AR) digital tours.

Asiatravel will issue a total of approxmately 16.7 million new placement shares – 12.5 million shares to Jacfun and 4.2 million to Yalla – at 6 cents each.

The placement price represents a premium of 55.8% over its volume weighted average price of 3.85 cents per share for trades done on the SGX on Monday – the day before the agreement was signed.

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