The placement shares represent 12.75% of the existing and issued paid-up share capital of the company comprising 301,907,596 shares, and will represent about 11.31% of the enlarged issued and paid-up share capital of the company of 340,400,000 shares.
Sanli Environmental has raised gross proceeds of about $10.008 million following the completion of the placement of 38,492,404 placement shares at 26 cents each.
The SGX-Catalist listed company intends to use net proceeds primarily for general working capital purposes, including to support the execution of ongoing Engineering, Procurement and Construction (EPC) projects.
