Sanli has successfully completed a share placement, raising approximately S$10.008m through the issuance of 38,492,404 shares at S$0.260 each. The placement attracted prominent institutional investors, including Areca Capital, Asdew Acquisitions, and UOB Asset Management Ltd. This financial boost comes as Sanli rides on a record order book of S$781.5m, reinforcing its financial position for future growth initiatives.
The placement was managed by SAC Capital Private Limited, with Maybank Securities Pte. Ltd. acting as the sub-placement agent. Sanli’s CEO and Executive Director, Sim Hock Heng, expressed satisfaction with the successful completion of the share placement, highlighting the confidence shown by institutional investors in Sanli’s business model and growth potential. “This milestone reinforces our commitment to delivering sustainable value to our shareholders whilst strengthening our financial position to support future growth initiatives,” he stated.
In addition to the financial development, Sanli has appointed Koo Tsai Kee, a former Member of Parliament for Tanjong Pajar GRC, as its new chairman. This leadership change is expected to guide the company as it continues to expand its operations and pursue new opportunities. The completion of the placement and the appointment of a new chairman mark significant steps in Sanli’s strategic growth plan.
