Jardine Cycle & Carriage to raise $772m via rights issue

Visual from the company website

Singapore-listed Jardine Cycle & Carriage, that is a subsidiary of Jardine Strategic Holdings, has announced that it would raise $772 million through a rights issue. The company, in a regulatory filing said that it would issue 39.5 million new shares priced at S$26 apiece – on the basis of one rights share for every nine existing ordinary shares.

This pricing marks a discount of close to 27.9 per cent to closing price of $36.06 on June 18.

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