<article>Singapore-listed <a href="http://www.sincapgroup.com.sg/html/index.php" target="_blank">Sincap Group</a> Friday <a href="http://infopub.sgx.com/FileOpen/Sincap%20Placement%20Announcement_19%20Nov%202015.ashx?App=Announcement&amp;FileID=379194" target="_blank">said</a> it plans to place out S$5.48 million of new shares to expand its newly acquired coal trading and logistics business, Orion Energy Resources.</article>

Singapore-listed <a href="http://www.sincapgroup.com.sg/html/index.php" target="_blank">Sincap Group</a> Friday <a href="http://infopub.sgx.com/FileOpen/Sincap%20Placement%20Announcement_19%20Nov%202015.ashx?App=Announcement&amp;FileID=379194" target="_blank">said</a> it plans to place out S$5.48 million of new shares to expand its newly acquired coal trading and logistics business, Orion Energy Resources.
The company, whose primary business involves trading of alumina and thermal coal, will be placing out 91.4 million new shares to 12 investors at 6 cents each to raise $5.48 million, it announced in a regulatory filing.
Sincap owns 51% in Orion Energy Resources, a China-based trading and logistics management company that is currently supplying coal to power plants. It will use 90% of the proceeds for expanding the business of Orion Energy, and 10% for the capital expansion of that company.
The price represents a premium of about 7.14% to the volume average weighted price of the Company&#8217;s shares of 5.6 cents based on trades done on on 17 November, the last traded market day prior to signing the deal with the 12 investors. The placement shares account for18.88% of the enlarged issued and paid-up share capital of the company upon completion of the placement.
The 12 investors are mostly individuals, who were introduced to the company by its chief executive, or independent directors, and even external bankers.

Singapore-listed Sincap Group Friday said it plans to place out S$5.48 million of new shares to expand its subsidiary Orion Energy Resources.

Singapore: Sincap to raise S$5.5m by placing out new shares to expand coal trading subsidiary

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Singapore: Sincap to raise S$5.5m by placing out new shares to expand coal trading subsidiary

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