MMP Resources in bond and share subscription deal to raise $0.2 mil in net proceeds

SINGAPORE (Oct 3): MMP Resources has entered into a bonds subscription and share placement agreement with Maiora Asset Management to raise $229,298 in net proceeds.

Fund management company Maiora has agreed to subscribe to 15.9 million new shares at an issue price of 0.54 cents each. The issue price represents a discount of 10% to the volume weighted average price of 0.6 cents for all trades done last Friday. The shares represent a 0.8% stake in the enlarged share capital of the MMP Resources.

Based in Singapore, Maiora conducts financing as well as renewable energy businesses across Asia and has been involved in more than US$600 million in structured debt deals within the region since 2013.

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