On March 10 this year, MC Payment announced it had raised $4 million through placement at 40 cents per share. The placement shares accounted for 3.7% of the enlarged share capital. Investors included Toh Soon Huat, Lim Tiong Kheng, other high-net-worth clients of OCBC Securities and Levin Lee of Ace Peak Capital. The placement diluted Koh’s holdings to 5.88%, and Ching’s to 27.06%.
MC Payment’s share price rose by more than 82% in two trading sessions, June 18 and June 21. Volume traded on those two sessions surged (from 120,0000 on June 17) to 34.5 million on June 18 and 69.4 million on June 21. On June 22, both price and volume receded, with 12.8 million shares changing hands. MC Payment’s shares outstanding stand at 272.25 million following the 10 million share placement in March.
MC Payment was listed via a reverse takeover (RTO) of Artivision Technologies which completed on Feb 18. On Feb 19, founder and CEO Anthony Koh had 6.11% in MC Payment, and Ching Chiat Kwong owned 28.09%. Ching is better known as the executive chairman and major shareholder of Oxley Holdings.
