MT Newswires05-29 12:15
Mooreast (SGX:1V3) signed a placement agreement with ZICO Capital to raise around SG$6 million through the placement of up to 44.5 million shares at SG$0.135 per share, according to a Thursday filing with the Singapore Exchange.
Shares of the mooring company zoomed over 15% in Friday's late-morning trade.
The placement exercise is aimed at strengthening the company's financial position and capital structure, with proceeds allocated for general working capital needs.
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