<article>Singapore Mainboard-listed, <a href="http://sinoconstruction.listedcompany.com/">Sino Construction Limited</a> Monday said it would raise S$6.5 million ($4.7 million) through the placement of 262 million new shares.</article>

Singapore Mainboard-listed, <a href="http://sinoconstruction.listedcompany.com/">Sino Construction Limited</a> Monday said it would raise S$6.5 million ($4.7 million) through the placement of 262 million new shares.
The company said it would place these shares, that is equivalent to 6.4 per cent of its existing issued share capital, with four individuals at S$0.0248 apiece, which is a discount of 9.8 per cent to the weighted average price of S$0.0275 for trades done on March 26, 2015.
Drew Madacsi, interim executive director of Sino Construction Limited, said: “The Company’s first micro power plant is on track to be operational in April, with new generators having arrived in Korea. The money raised is to be used to shore up the current financial position of the Company, allow the implementation of the personnel strategy and advance further construction of more micro power plants in South Korea”.
“Sino has been on a recent drive to restructure core parts of its business through more stable cash flow projects, those requiring narrow capital expenditure. Some of the recent changes have been painful but extremely necessary for the reemergence of the company in 2015 and beyond. The company is buoyed by the optimism of investors who are slowly starting to see the growth potential of a restructured Sino Construction, one built on solid fundamentals,” he added.
The four investors are Lim Swee Yean (50 million shares), Lee Bu Hua (75 million shares), Levin Lee Keng Weng (60 million shares) and Wong Meng Choo (77 million shares).
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Singapore Mainboard-listed, Sino Construction Limited Monday said it would raise S$6.5 million through the placement of 262 million new shares

Sino Construction to raise $4.7m through share placement

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Sino Construction to raise $4.7m through share placement

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