SGX seeks more details before giving nod to ISR’s $12 mil placement

SINGAPORE (Oct 12): ISR Capital has received an approval-in-principle from Singapore Exchange for the listing and quotation of the new shares it plans to issue to four investors — with a few strings attached.

Among other things, SGX has asked ISR to disclose the identity of the introducer of Ong Siew Choo to David Rigoll, according to a statement from the company late last night. Ong is one of the four investors whom ISR has lined up for the placement. Rigoll is an executive director of ISR, and its largest shareholder.

On Sept 4, ISR announced plans to raise $12 million by placing out more than 140 million shares at 8.5 cents each to four investors.

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