Trendlines Group Ltd., a company focused on innovation-based medical and agrifood technologies, has announced that its recent rights issue to raise approximately S$3.9m has been oversubscribed by 25%. Investors applied for an excess of 34 million rights shares, surpassing the 137 million shares available, indicating strong confidence in the company’s long-term strategy and growth potential.
The funds raised will be utilised to bolster Trendlines’ financial position by financing direct and indirect investments into its existing portfolio companies. This includes supporting exit strategies where appropriate and meeting general working capital needs. The oversubscription highlights the robust support from major shareholders, reflecting their continued confidence in the company’s vision and future growth.
Haim Brosh, Trendlines’ CEO, expressed satisfaction with the outcome, stating, “The strong oversubscription of our rights issue is a clear signal of investor confidence in Trendlines’ vision and strategy. With this additional capital, we can provide crucial support to our portfolio companies, help drive successful exits, and unlock long-term value for our shareholders.”
Trendlines, which is listed on the Singapore Stock Exchange and trades as an American Depositary Receipt in the US, is known for its hands-on approach in establishing, funding, and incubating its portfolio companies. The successful rights issue underscores the company’s strategic direction and the trust it has garnered from its investors.
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