At 10 cents, it represents a discount of 9.67% to the volume weighted average price of 11.07 cents for trades done on SGX from Oct 24 to Oct 27, before shares were halted after a run of more than 50%. It last traded at 13 cents, valuing the company at $112.9 million.
iX Biopharma, headed by Eddy Lee, a former Genting and Hong Leong senior executive, plans to use the proceeds too to buy new equipment and also for working capital.
The placement is handled by OCBC.
