SG brief: Jasper Investments and Riau Capital

Singapore two-dollar bills

Riau Capital has agreed to subscribe for 138.89 million new shares of Jasper Investments at S$0.0036 each to raise gross proceeds of S$500,000, according to a filing to SGX Monday. The pricing is a premium of 80 percent to the volume-weighted average price (VWAP) of S$0.0020 for trades on 30 May, the filing said.

The shares represent a 2.85 percent in Jasper’s enlarged share capital, the filing said.

“The company has decided to place the subscription shares to the subscriber so as to raise funds to provide liquidity to the company’s working capital. The company believes that the subscription will strengthen the balance sheet and provide flexibility for the group,” Jasper Investments said.