SINGAPORE (Oct 12): Accrelist is raising $4 million in a private placement of 500 million new shares at 0.8 cent each to investors Liu Song and Summit Planners Advisory Group.

In a Thursday night filing, Accrelist says it will use 75% of the net proceeds of $3.94 million from the placement to support M&A activities in the e-medical arena, for WE Crowdfunding, while 25% of the funds raised will be used for working capital purposes for Accrelist’s subsidiary, WE Pay.

See: Accrelist chairman Terence Tea ups stake as company pivots to education and fintech

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook