Tritech substantial shareholder raises stake; acquires 8 million shares for $256,000

The purchase has brought Lee’s stake in Tritech to 8.11%, from 7.32% previously.

The date of notification to the listed issuer was on April 13.

Tritech, on April 12, received a query from Singapore Exchange (SGX:S68) Regulation (SGX RegCo), as its shares surged 11.76% to close at 3.8 cents.

Tritech was also the second most heavily traded counter on the SGX with nearly 110 million shares changed hands, behind Sembcorp Marine (SGX:S51) ’s (SembMarine) 174.8 million shares.

See also: Tritech receives unusual trading query from SGX; eyes diversification into water treatment, membrane (update)

The company had announced, on March 25, that it intends to raise up to $33.8 million from a group of new investors who will take up nearly 742.2 million shares at 3 cents apiece for the first tranche and 5 cents each for the subsequent tranche.

Shares in Tritech closed at a 52-week high of 3.9 cents on April 14, up 0.3 cent or 8.33%. It was the fourth-most active counter, with some 57.2 million shares transacted.