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Weiye Holdings
13-01-2016, 07:13 PM.
Post: #1
Weiye Holdings
The Board of Directors of Weiye Holdings Limited wishes to announce that the offering of 35,800,000 new Eindec Shares in the capital of Eindec Corporation Limited pursuant to the Placement has closed today at 12.00 noon. 

The Placement comprises an offering of 35,800,000 new Eindec Shares at S$0.21  for each Placement Share, payable in full on application. The total number of issued Eindec Shares immediately after the completion of the Placement will be 107,700,000 Eindec Shares. 

On the basis of the Placement Price and the post-Placement share capital of Eindec Corporation of 107,700,000 Eindec Shares, the size of the Placement will be approximately S$7.5 million and the market capitalisation of Eindec Corporation will be approximately S$22.6 million. The Company will retain a shareholding interest in Eindec Corporation of approximately 66.8% immediately after the Placement. 

The net proceeds of approximately S$4.6 million is intended to fund the establishment of Eindec’s new business for environmental and technological solution products in the PRC, investment in the research and development ("R&D") of new and existing products, establishment and enhancement of its manufacturing capabilities, as well as working capital requirements.
Specuvestor: Asset - Business - Structure.
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