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Starburst raises $4.8 mil via married vendor share deal

Michelle Zhu Published on Fri, Aug 18, 2017 / 6:28 PM GMT+8

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SINGAPORE (Aug 18): Starburst Holdings says it has received strong support from institutional and investors through a married vendor share deal, which saw the collective takeup of 12.4 million shares at 39 cents per share – amounting to about $4.8 million in total.

This represents 5.02% of the engineering group’s issued and paid up capital of 246,867,650 shares, out of which 3.8 million shares were taken up by its executive chairman Edward Lim, and 8.6 million from its managing director, Yap Tin Foo.

Following the vendor shares sale, the collective shareholdings of the company’s two founders will be reduced to 175,193,800 shares, representing 70.97% of the issued share capital of Starburst.