Singapore’s United Engineers plans rights issue

The stock drops after the property owner and developer earlier this week announces a plan to raise at least $369 million from the deal.
<div style="text-align: left;"> United Engineers' flagship property, UE Square </div>
<div style="text-align: left;"> United Engineers' flagship property, UE Square </div>
June 14, 2013

Shares in United Engineers, a Singapore-listed property developer, have slid more than 14% since its announcement on Tuesday night that it is planning a rights issue.

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