singamas-63-million-rights-issue-oversubscribed

Singamas $63 million rights issue oversubscribed

The rights issue receives applications worth more than 214.5% of the offering size.

Singamas Container Holdings has announced that its HK$492 million $63 million rights issue was oversubscribed. Acceptances and applications were equal to more than 214.5% of the offering size of 1.4 billion rights shares.

In a statement the company said it received 204 valid acceptances for 1.35 billion shares, representing 96.3% of the offering size. The remaining 52 million shares were allotted to investors who made excess applications.

The deal launched in early March with a subscription price of HK$0.35 per share, a 53.9% discount to the last trading price at the time and a 28.6% discount to the theoretical ex-rights price of HK$0.49. Shareholders were entitled to two shares for every share...

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