Singapore Institute of Advanced Medicine Utilizes SG$5.5 Million from Rights Issue; Shares Down 3%

MT Newswires

Jul 17

Singapore Institute of Advanced Medicine Holdings (SGX:9G2) has used around SG$5.5 million of the net proceeds raised from the issue of rights shares, as general working capital and for the repayment of a loan from a shareholder.

This is part of the funds raised from a rights cum warrants issue of SG$14.9 million, according to a filing to the Singapore stock exchange on Thursday.

Following these allocations, the company holds a remaining balance of SG$5.1 million for ongoing working capital needs. Additionally, the company has earmarked SG$3.8 million for critical system maintenance and software upgrades, along with SG$500,000 for system revamps and other capital expenditures.

The company's shares were down over 3% in Friday's trade.

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Additionally, the company has earmarked SG$3.8 million for critical system maintenance and software upgrades, along with SG$500,000 for system revamps and other capital expenditures.</p><p>The company's shares were down over 3% in Friday's trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"9G2.SI","symbol_name":"SAM Holdings","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2652470591","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2652470591","pubTimestamp":1784270160,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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