SINGAPORE (Sept 13): Asia-Pacific Strategic Investments (APSI) is undertaking a rights cum warrants issue to raise net proceeds of up to $43.6 million to fund the company’s new expansion into real estate development.

In a Tuesday night filing, APSI announced it is offering up to 14.5 billion new shares at an issue price of 0.3 cent each and up to 14.5 billion warrants, with each warrant carrying the right to subscribe for one new share at 0.3 cent each, on the basis of two rights shares for every one share held by shareholders.

The issue prices represent a discount of 25% to the last traded price of 0.4 cent for shares traded on the SGX on Aug 30 2017, the full market day immediately preceding the announcement.

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