12-06-2013, 10:01 AM
United Engineers to raise S$490m in rights issue to repay loans
SINGAPORE — United Engineers (UE) is planning to raise nearly S$490 million from a one-for-one rights issue to repay bank loans after it succeeded last month in taking over technology, property and car distribution company WBL.
UE plans to offer up to 326.6 million rights shares at S$1.50 each, representing a discount of about 47.6 per cent from the last transacted price of S$2.86 on the Singapore Exchange on Monday, and a discount of about 31.2 per cent from the theoretical ex-rights price of S$2.18, the company said in a regulatory filing after the market closed yesterday.
http://www.todayonline.com/business/unit...epay-loans
SINGAPORE — United Engineers (UE) is planning to raise nearly S$490 million from a one-for-one rights issue to repay bank loans after it succeeded last month in taking over technology, property and car distribution company WBL.
UE plans to offer up to 326.6 million rights shares at S$1.50 each, representing a discount of about 47.6 per cent from the last transacted price of S$2.86 on the Singapore Exchange on Monday, and a discount of about 31.2 per cent from the theoretical ex-rights price of S$2.18, the company said in a regulatory filing after the market closed yesterday.
http://www.todayonline.com/business/unit...epay-loans
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