OxPay Financial Limited Announces Proposed Subscription of New Shares and Receives Listing and Quotation Notice

Key Highlights for Investors

• Share Subscription Details: OxPay Financial Limited has proposed the issuance of 30,841,000 new ordinary shares at an issue price of S\$0.03233 per share. This will raise aggregate proceeds of approximately S\$997,089 for the company.
• Investor Participation: The shares will be subscribed by ten investors, potentially broadening the shareholder base and enhancing liquidity.
• Regulatory Approval: The company has received the Listing and Quotation Notice (LQN) from the Singapore Exchange Securities Trading Limited (SGX-ST), permitting the listing and quotation of these new shares on the Catalist board, subject to compliance with SGX-ST requirements.
• Timeline for Issuance: The Subscription Shares will be allotted and issued within seven market days from the date of the LQN.
• General Share Issue Mandate: The shares are being issued under the general share issue mandate approved by shareholders at the Annual General Meeting held on 24 April 2025, which allows the Directors to issue up to 50% of the company’s total issued shares (excluding treasury shares and subsidiary holdings) other than on a pro rata basis.
• Mandate Utilization: As of the mandate approval date, the company had 275,843,137 issued shares. The maximum that could be issued under the mandate was 137,921,568 shares. After a prior issuance of 35,410,015 shares on 27 June 2025, the remaining available for non-pro rata issuance is 102,511,553 shares, meaning the current subscription is well within the mandate limits.
• Further Announcements: OxPay Financial Limited will make additional announcements once the shares have been allotted and issued.

Implications for Shareholders

• Potential Share Price Impact: The issuance of new shares may dilute existing holdings, but it also strengthens the company’s capital base. The entry of new investors and enhanced liquidity could influence trading activity and share price dynamics.
• Mandate Compliance: This share issuance is fully compliant with the shareholder-approved mandate, indicating proper governance and transparency.
• Regulatory Confidence: Receipt of the LQN from SGX-ST signals regulatory approval, though the notice explicitly states it is not an endorsement of the merits of the share subscription, the company, its subsidiaries, or its securities.
• Price Sensitivity: Investors should note the issue price (S\$0.03233 per share) as a reference point for valuation, and monitor announcements relating to the allotment for potential movements in share value.

Additional Information

• Sponsor Review: The company’s sponsor, ZICO Capital Pte. Ltd., has reviewed this announcement, but the SGX-ST has not examined or approved it and assumes no responsibility for its contents.
• Contact Point: Investors or interested parties can reach Ms. Goh Mei Xian at ZICO Capital Pte. Ltd. for further information.

Conclusion

The proposed share subscription and receipt of the listing notice represent a significant development for OxPay Financial Limited, with potential impacts on capital structure, investor base, and share liquidity. Shareholders should closely monitor subsequent announcements regarding the actual allotment and issuance of the new shares for further insight into the company’s growth and capital management strategy.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with professional advisors before making any investment decisions. The information herein is based on official company announcements and is subject to change. Neither OxPay Financial Limited, its sponsor, nor SGX-ST guarantees the accuracy or completeness of this report.

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