Approximately $113.8 million, representing 80% of net proceeds of $142.3 million, will go towards general corporate activities including but not limited to investments, acquisitions, business expansion and repayment of bank borrowings. The remaining 20%, or $28.5 million, will be used to meet the general working capital requirements of the business.
Conglomerate Hong Leong Asia (HLA) is offering 50 million new ordinary shares at a placement price of $2.90, according to a bourse filing on April 29.
The placement price represents a discount of approximately 5.76% to the volume weighted average price of $3.0771 for trades done on the Singapore stock exchange (SGX-ST) on April 27, being the last full market day on which HLA’s shares were traded prior to the trading halt called by the company before trading hours on 28 April 2026 and up to the time of execution of the placement agreement with CGS International Securities.
