GSH Corp raises $22.1 mil after closing of issue of commercial papers

GSH Corporation has raised a total of $22.12 million across all three issuances of its commercial papers (CP) under the CP facility programme.

On Nov 24, GSH Corporation announced that it had launched its second issue under the programme for a tenor of 90 days at an interest rate of 5.3% per annum (p.a.), or known as the G002 issue. The company also launched its third and fourth issues under the same programme for tenors of 181 days and 363 days respectively at interest rates of 5.4% p.a. and 5.6% p.a. respectively. The third and fourth issues are referred to as the G601 and G121 issues.

At the time, the company had said that it expected to raise a minimum of $10 million for the issues.

Among the subscribers, Sam Goi Seng Hui, Gilbert Ee Guan Hui and Juliette Lee Hwee Khoon had subscribed for a total of $13.36 million, amounting to 64.05% of the G002 issue.

Goi is a controlling shareholder of the company. He is also its director and executive chairman. Ee is the company’s CEO and executive director, while Lee is a non-executive director of the company.

The digital securities will be listed on the ADDX digital platform on Dec 19.

Shares in GSH Corporation closed flat at 16.5 cents on Dec 16.

GSH Corp raises $22.1 mil after closing of issue of commercial papers

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