HLH Group raises $2.25 mil in share placement to Taiwan hedge fund

SINGAPORE (Oct 12): HLH Group on Tuesday entered into a conditional share subscription agreement with Taiwan hedge fund Seven Voyagers Capital to issue the latter 250 million of its company’s shares for a sum of $2.25 million.

At 0.9 cents per share, this represents a discount of 10% to HLH Group’s volume weighted average price of 1 cent per share as at Monday.

In a Wednesday statement, the agriculture and property development firm says the gross proceeds will be used for general working capital purposes.

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