Continue reading this on our app for a better experience

Open in App
Floating Button
Home News Company in the news

CSE Global looks to raise $24 mil through proposed placement

Bryan Wu
Bryan Wu • 1 min read
CSE Global looks to raise $24 mil through proposed placement
CSE Global has proposed to place 60 million shares at an issue price of 40 cents per share. Photo: Albert Chua/The Edge Singapore
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

CSE Global 544 has proposed to place 60 million shares at an issue price of 40 cents per share, amounting to an aggregate consideration of $24 million.

The proposed placement is not underwritten and will be undertaken by way of an exempt offering in Singapore in accordance with Sections 272B, 274 and 275 of the Securities and Futures Act (SFA).

The issue price represents a discount of around 6.6% to the volume weighted average price (VWAP) of 42.81 cents for the shares traded on March 13.

The placement shares represent about 9.8% of the company’s existing share capital of 614,882,023 shares. It will represent about 8.9% of the enlarged share base thereafter.

According to CSE, the proposed placement will increase resources available to the company to pursue further inorganic growth through strategic acquisitions or investments primarily in its existing markets, including the US, Australia and New Zealand.  

On a pro forma basis, the group’s net tangible assets (NTA) per share would have been 21.62 cents instead of 19.96 cents after the proposed placement should it have been completed on Dec 31, 2023.

See also: Kingsmen Creatives acquires 10% stake of Kingsmen E&E for $395,000

The pro forma earnings per share (EPS), if the placement was completed on Jan 1, 2024, would have been 3.34 cents instead of 3.66 cents.

Shares in CSE Global 544

closed unchanged at 42.5 cents on March 14.

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.