Mary Chia to raise S$1m via share placement

Mary Chia Holdings has entered agreements to issue 100 million new shares at S$0.01 each, raising S$1 million. The deal is priced at a 27.01% discount to the volume-weighted average price for trades between September 30 and October 5. Shareholder approval will be required at an EGM as the issuance is not under the general mandate. Net proceeds of about S$946,570 are earmarked for working capital and expansion in China and Thailand.