iWOW Technology has successfully raised S$15m through a fully subscribed placement of 66,667,000 new ordinary shares at S$0.225 each. The funds will be used to expand the company’s Clinical Nutrition manufacturing capacity, support overseas expansion, and invest in research and development across its AgeTech, Clinical Nutrition, and Internet of Things (IoT) businesses.
The placement saw strong participation from institutional investors, including those under Singapore’s Equity Market Development Programme, as well as strategic healthcare investors. Notable participants include Amova Asset Management, Areca Capital Sdn. Bhd., and Tokio Marine Life Insurance Singapore Pte. Ltd., among others. This broadens and strengthens iWOW’s institutional shareholder base.
Soo Kee Wee, substantial shareholder and Non-Executive Chairman of iWOW Technology, expressed his support for the placement, stating, “I fully support this Placement and am delighted to welcome a high-quality group of institutional and strategic investors who share our long-term vision and confidence in our growth strategy.” He added that the capital raised will accelerate the company’s growth strategy and create lasting value for all shareholders.
iWOW, known for its integrated wireless IoT solutions, aims to leverage the funds to scale its integrated solutions and position itself as a leading player in the longevity economy. The company envisions a smarter, greener, and safer world through innovations in wireless technology.
The successful placement marks a significant step in iWOW’s growth journey, with the company poised to execute its ambitious plans and expand its market presence.
