The proceeds will be used for business expansion and working capital purposes in relation to the Group’s growth plans of its consumer-centric businesses in Singapore.
In an effort to accelerate the growth of its consumer-centric businesses in Singapore, KTL Global will be raising about $3.1 million from a proposed share placement exercise.
Under the terms of the share placement, KTL will issue 30 million new ordinary shares at an issue price of 10.3 cents per share, which represents a discount of approximately 9.9% to the volume weighted average price of 11.43 cents for trades done on the ordinary shares in the company on SGX for the full market day on July 13.
