$YONGNAM HOLDINGS LIMITED(AXB.SI)$

Via Philips Capital:

“STEEL fabricator Yongnam Holdings has proposed to place up to 104.5 million new shares at an issue price of 7.6 Singapore cents per share to raise up to S$7.9 million, it said on Tuesday in an exchange filing. The placement price represents a discount of around 9.9 per cent to the volume weighted average price for trades done on Monday - the full market day before the placement agreement was signed. The placement shares represent around a fifth of the existing issued and paid-up shares of the mainboard-listed company. If the proposed placement - which is not underwritten - is fully subscribed, the placement shares will take up around 16.7 per cent of the enlarged share capital of the company.”