Ascent Bridge Limited Completes Strategic Share Placement
Ascent Bridge Limited Completes Strategic Share Placement
Ascent Bridge Limited (the “Company”), a Singapore-based entity, has announced the successful completion of its proposed placement, issuing 17,414,446 new ordinary shares at a price of S\$0.14 per share. This development, confirmed by the board of directors on 18 December 2024, marks a significant increase in the company’s share capital.
Key Points of the Share Placement
- The total number of issued shares, excluding treasury shares, has increased from 87,072,231 to 104,486,677.
- The placement shares are fully paid and free from encumbrances such as claims, mortgages, and liens.
- The new shares will rank pari passu with existing shares, although they will not be entitled to dividends or distributions with a record date prior to their issuance.
- The placement shares are expected to be listed on the Main Board of the SGX-ST around 20 December 2024.
Implications for Shareholders
This strategic move could affect the share value of Ascent Bridge Limited. The increase in share capital may influence market perception and trading activities, potentially impacting the company’s stock price. Shareholders should consider the implications of the placement shares not being eligible for certain dividends or distributions and how this might affect their investments.
Leadership Remarks
Joint Executive Chairmen and CEOs, Qiu Peiyuan and Sun Quan, have overseen the completion of this placement, reinforcing the company’s strategic direction and growth potential.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. The reader should conduct their own research or consult a professional advisor to understand the impact of this information on their investments.
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