The company has decided to undertake the proposed placement for business expansion and to broaden the company’s shareholder base which it hopes will improve the trading liquidity of its shares.
ASL Marine Holdings is seeking to raise up to $7 million through the proposing the placement of 41,104,000 new ordinary shares at 17.03 cents per placement share.
The placement shares represent about 4.16% of the existing issued and paid-up share capital of the company that has 987,928,976 shares in issue.
