Global Yellow Pages to raise $5.25 mil from sale of new shares to 2 investors

SINGAPORE (Sept 19): Global Yellow Pages (GYP), the directory, F&B and property firm, on Sunday entered into a private placement agreement to sell about 34.08 million new shares at 15.4 cents to two investors for a total of $5.25 million.

The two private investors are Thomas Riber Knudsen, CEO of logistics provider Damco Asia, and Yong Yin Min, a non-executive director at vessels operator Pacific Radiance. Each will be issued 17.04 million shares or half of the total placement shares.

The issue price represents a discount of 9.9% to the volume weighted average price of 17.1 cents based on trades done on Sept 9.

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