Salt Investments has raised $7 million from a group of investors by placing out 2.8 billion new shares at 0.25 cents each, a 16.7% discount off its last traded price of 0.3 cents on May 30.
The company, previously called Jasper Investments (SGX:FQ7
) , is in a fund-raising mode, as it seeks to venture into new businesses under new CEO Dennis Goh.
Investors who have come on board thus far include former SGX chairman Koh Boon Hwee and Terence Wong of Azure Capital.
On Jan 1, the company announced it was looking for alternative funding after two investors who were supposed to take part in an earlier placement round did not pay up in time.
The two individuals were supposed to invest a total of $4 million.
In a separate announcement, Salt Investments says it has completed the acquisition of a 60% stake in marine lubricant supplier TT Oil (Singapore) for $6 million.
