<article>Fu Yu Corporation is proposing an amalgamation and United Foods is raising funds through a share placement.</article>

Fu Yu Corporation is proposing an amalgamation and United Foods is raising funds through a share placement.
<h3 style="text-align: justify;">Fu Yu Corp proposes amalgamation</h3>
<a style="color: #000080;" href="http://www.fuyucorp.com/" target="_blank">Fu Yu Corporation</a> has proposed to amalgamate with two of its wholly-owned subsidiaries &#8211; Nanotechnology Manufacturing (NTM) and Solidmicron Technologies (SMT) &#8211; into a single consolidated entity.
Both NTM and SMT are Singapore-based and engaged in manufacturing activities. According to an SGX filing on Tuesday, Fu Yu explains that this move is meant to streamline the corporate structure and operations of Fu Yu Corporation, as well as to improve its financial performance.
This will be achieved through improved operational efficiencies, economies of scale and synergies from better resource allocation.
<h3 style="text-align: justify;">United Food raises funds in share placement</h3>
Malaysia&#8217;s <a style="color: #000080;" href="https://www.unitedfood.com.sg/" target="_blank">United Food Holdings</a> has placed out 22 million new shares to two individuals at 3.8 cents each. This amounts to S$836,00 in gross proceeds, with the placement price at a 35.7 per cent premium to its volume weighted average price of 2.8 cents for the trades on Friday.
According to United Food, the placement will raise net proceeds estimated at S$780,000 and finance the expansion of existing business operations, undertake business development activities, and pursue acquisition and joint venture (JV) opportunities.
Post-placement, the company&#8217;s issued share capital will increase from RMB 11.8 million to RMB 13.7 million. Net tangible assets per share will fall from the current 3.92 RMB cents to 3.3 RMB cents.
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Fu Yu Corporation is proposing an amalgamation and United Foods is raising funds through a share placement.

SG Dealbook: Fu Yu mulls amalgamation; United Food placement

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SG Dealbook: Fu Yu mulls amalgamation; United Food placement

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