Adventus Holdings plans to raise net proceeds of nearly $3.1 million by placing out 501 million new shares at 0.63 cents each.
The company wants to increase its working capital so that it can better support its existing projects in Vietnam.
The placement price is a 10% discount off its volume weighted average price of 0.7 cents on March 30.
Upon completion of the placement, the company’s share base increase by around a quarter to 2.45 billion shares.
The placement is managed by SAC Capital.
