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Darco raising as much as $23.6mil from investor in equity and debt

PC Lee Published on Mon, Oct 23, 2017 / 8:21 AM GMT+8

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SINGAPORE (Oct 23): Darco Water Technologies is selling between 24 million and 30.3 million new shares at 65 cents each to a strategic investor Wang Zhi aka Robert Wang.

The placement exercise is expected to raise between $15.6 million to $19.6 million.

The placement price represents a premium of 15% from the weighted average price of the group’s shares of 56.5 cents on Friday, being the full market day to which the placement deal was signed.

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