At 10 cents, it represents a discount of 9.67% to the volume weighted average price of 11.07 cents for trades done on SGX from Oct 24 to Oct 27, before shares were halted after a run of more than 50%. It last traded at 13 cents, valuing the company at $112.9 million.
iX Biopharma plans to raise $5 million by placing out new shares at 10 cents each, to fund its expansion in the pharmaceutical market in the US.
The new shares will enlarge its existing share base by more than 5%.
