Top Global, 60% controlled by the younger sister of Oei Hong Leong, is looking to raise up to $125m through a 3-for-1 rights issue @ $0.01 plus 3 free warrants to fund new deals in property development and hospitality. In January, Oei Siu Hua took control of Top Global, a roofing and construction outfit listed on Catalist and plans to venture into property markets in S’pore, Indonesia and China with possibility of cooperating with the Sinar Mas Group, controlled by her family.
The rights issue will comprise 8.4bn new shares and 8.4bn warrants, enlarging the share capital base to 10.9bn shares. Group is likely to undertake share consolidation after rights.
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