The rights issue bonds are to be offered to entitled shareholders on the basis of 19 rights issue bonds for each 1,000 shares they hold.
Raffles Education is trying to raise gross proceeds of more than $44 million via convertible bonds to pay off debt and use the remainder for working capital.
First, it plans to raise nearly $26.2 million via a renounceable underwritten rights issue of a convertible bonds priced at 85 cents each.
