Singapore's Reebonz announces $20m share offering, stock crashes

In a surprising U-turn, Singapore-based Reebonz Holding Limited, an online marketplace for luxury goods, has announced a cash call exercise in the form of a $20-million ordinary share offering just two weeks after its one-for-eight reverse stock split move.

Both these initiatives come ahead of a Nasdaq Exchange listing compliance deadline on March 29. There were no updates on the company’s listing status at the time of filing this article.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter