The placement shares represent approximately 9.54% of the enlarged issued and paid-up share capital of the company.
Innotek (SGX:M14
) plans to raise up to $16 million by placing out up to 24.6 million new shares at 65.06 cents each.
The placement price represents a discount of approximately 9.5% to the volume weighted average price of 71.89 cents, based on the last full market day of April 2.
