MoneyMax Financial Services Ltd has successfully raised S$44.3m through the issuance of 53 million new ordinary shares, priced at S$0.835 each. The placement, which was fully subscribed, attracted significant interest from investors, facilitated by fund managers under the Monetary Authority of Singapore’s Equity Market Development Programme.
The net proceeds of approximately S$43.4m will be channelled towards the company’s general working capital. Specifically, the funds will support the expansion of MoneyMax’s pawnbroking portfolio and the acquisition of retail inventory. This financial boost is a strategic move as the company aims to transfer to the Main Board of the Singapore Exchange (SGX) by the first week of May 2026.
The placement was managed by CGS International Securities Singapore, DBS Bank, and Oversea-Chinese Banking Corporation, who acted as joint bookrunners. Notably, the placement price represented a 3.1% discount to the volume-weighted average price of the company’s shares on the last trading day before the placement agreement was executed.
The new shares, which account for approximately 6% of MoneyMax’s existing share capital, will be freely transferable and rank equally with existing shares. The successful completion of this placement not only meets the minimum public shareholding requirement but also positions MoneyMax for future growth and stability in its market operations.
