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Darco Water in private placement to raise funds for PPP water projects

PC Lee Published on Thu, Nov 16, 2017 / 7:17 AM GMT+8

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SINGAPORE (Nov 16): Darco Water Technologies has entered into a placement agreement to sell 1.5 million new shares at 60 cents each to substantial shareholder Stone Robert Alexander.

In a filing on Wednesday night, Darco says the placement is to raise funds for the company to invest in public-private partnership water infrastructure projects.

Stone Robert Alexander holds a 15.99% stake in the company. After the placement, his stake in the company will increase to 18.13%.

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