Mooreast Holdings is the latest to join a growing line of listcos doing secondary fund raisings.
The company has appointed Zico Capital to raise and Maybank Securities to help raise up to $6 million by selling 44.45 million new shares at 13.5 cents each.
These new shares will enlarge Mooreast's share base by 14.65% and the placement price is a discount of 2.03% off the last traded price on May 22.
Mooreast, which expects net proceeds of some $5.83 million, says the funds raised will help it take on additional projects.
