SG brief: ValueMax Group

ValueMax outlet in Singapore’s Little India neighborhood; taken October 2018.ValueMax outlet in Singapore’s Little India neighborhood; taken October 2018.

ValueMax Group said Wednesday the third tranche of its digital securities commercial paper received strong investor demand, with the quantum raised to a total S$40 million, from the planned S$20 million.

The securities will be listed on the ADDX digital platform on 17 June, the pawnshop operator said in a filing to SGX.

Tan Hong Yee, who is a controlling shareholder of ValueMax and is married to Executive Chairman Yeah Hiang Nam, subscribed for S$5.5 million of the securities, while Yeah Chia Wei, the company’s chief credit and risk officer and son of the chairman, subscribed for S$1.5 million, the filing said. Yeah Lee Ching, and executive director and daughter of the chairman, subscribed for S$100,000 of the securities, the filing said.