A group of investors led by renowned Singapore Inc figure Koh Boon Hwee and fund manager Terence Wong, will be investing some $9 million in Jasper Investments FQ7 .
The investment, which involves the placement of new shares and warrants, will help to expand Jasper's core business as well as invest in new capabilities.
According to Jasper Investments, whose executive chairman and CEO is Dennis Goh, it will work with Prosper Excel Engineering to bring in profitable or revenue-generating marine assets or businesses to grow its core business.
Jasper Investments will also partner with Lyte Ventures, to help "digitalise" the maritime industry via new AI-empowered capabilities to improve productivity and grow earnings.
The company has ambitions too, to "allocate capital" among maritime companies, making its decisions based on impending inflexion points in the traditionally cyclical industry.
According to Jasper Investments, among others, it is placing out some 6.2 billion new shares at 0.15 cent each. The new shares will come with warrants at a ratio of 1 for each 2 new placement shares.
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The warrants can be immediately exercised at 0.3 cent.
Koh, who is also chairman of SGX, among his many other appointments, is investing in this via Black Kite Investment.
Jasper Investments saw active trading today, following the announcement of this investment before the market opened.
As at the lunch break, it is the most active counter, with nearly 37 million shares changing hands and up 200% to 0.3 cent.
