Lincotrade & Associates Holdings has completed the share placement of 10 million placement shares at 22 cents per share, raising gross proceeds of $2.2 million.
The placement price is priced at a premium of 3.14% to the volume weighted average price 21.33 cents per share of the last traded market day of Nov 24.
Some institutional funds that subscribed for the placement shares include Lion Global Investors Limited, ICH Synergrowth Fund and Ginko-AGT Global Growth Fund.
The group says that it will use net proceeds from the placement for working capital purposes.
Shares in Lincotrade closed flat at 20 cents on Dec 3.
