KSH Holdings Limited has announced the successful sale of its 28,900,400 treasury shares, generating net cash proceeds of $8.67m. The shares were sold at S$0.305 each, a 6.44% discount to the previous day’s average price. The placement, managed by Evolve Capital Advisory and Maybank Securities, attracted significant interest from investors including ICH Capital, Ginko-AGT Global Growth Fund, and Lion Global Investors.
The decision to sell the treasury shares was driven by strong demand from both institutional and individual investors, aiming to broaden KSH’s shareholder base and enhance share liquidity. These shares were initially accumulated through KSH’s share buy-back scheme in previous years.
Executive Chairman and Managing Director, Choo Chee Onn, expressed gratitude for the investor confidence, stating, “The interest from institutional funds and individual investors for this Placement demonstrates confidence in KSH’s long-term prospects. We appreciate the unwavering support from our shareholders as we pursue long-term growth.”
KSH Holdings, a prominent construction and property development group in Singapore, has been expanding its business portfolio and geographical presence since its listing on the SGX-ST in 2007. The funds raised from this placement will be allocated towards working capital, supporting the company’s ongoing commitment to enhancing shareholder value and delivering sustainable returns.
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