On August 18, the company proposed a placement of up to 7.5 million fully paid-up ordinary shares at the placement price of $2.545 following the placement agreement it entered with CGS-CIMB Securities (Singapore) and SAC Capital.
The placement price represents a discount of some 9.9% to the volume weighted average price of $2.8247 per share on August 18.
The 7.5 million ordinary shares placed represent an approximate 3.82% of the existing issued share capital of 196.1 million shares. It will represent about 3.68% of the enlarged issued share capital of 203.6 million shares.
CGS-CIMB Securities (Singapore) and SAC Capital are the joint placement agents for this placement.
Shares in UG Healthcare closed 4 cents higher, or 1.5% up, at $2.69 on August 21.
