Lorenzo: +39% at $0.18, on above avg volume. Branded furniture manufacturer and retailer issues 33m new placement shares at $0.11/sh to Bobby Lim Chye Huat, vs last close at $0.13. New shares make up 16.4% of enlarged share base. Net proceeds of $3.5m to be used for general corporate and working capital purposes, JVs, M&A…
Bobby Lim is the MD of SGX-listed Tai Sin Electric, and also owns smaller equity stakes in Addvalue, China Environment, Guangzhao. A notable high net worth individual, he has previously co-invested with other HNI’s like Jonathan Lim Keng Hock (owns stakes in Vallianz, Top Global, Kreuz, Adventus).
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