Green Build Technology Delays Placement Due to Subscriber's Financial Struggles; Shares Down 4%
Green Build Technology (SGX:Y06) has delayed a placement exercise due to a subscriber's inability to have the financial means to finalize the share subscription, according to a Friday filing with the Singapore Exchange. Shares of the ERP company were down nearly 4% in Monday trading. Responding to an SGX query about the subscriber's financial capacity to complete the subscription, the company said the subscriber required more time to indicate its financial means. Earlier, the company had secured a subscriber commitment of SG$200,000 in advance against a proposed SG$9.1 million placement.
Green Build Technology (SGX:Y06) has delayed a placement exercise due to a subscriber's inability to have the financial means to finalize the share subscription, according to a Friday filing with the Singapore Exchange.
Shares of the ERP company were down nearly 4% in Monday trading.
Responding to an SGX query about the subscriber's financial capacity to complete the subscription, the company said the subscriber required more time to indicate its financial means.
Earlier, the company had secured a subscriber commitment of SG$200,000 in advance against a proposed SG$9.1 million placement.