Global Strategic Holdings (GSH)

Global Strategic Holdings: GSH announced plans to raise $246.8m in a rights issue, just 2 weeks after Lippo Group and a private equity fund invested $37.5m through a stock placement. GSH said the right issue assumes the completion of the stock placement to Lippo's Golden Super Holdings and private equity fund SkyVen Growth Opportunities Fund. Up to 4.9b new shares at an issue price of $0.05 per rights share, on the basis of a 1-for-1. The issue price is a 42.5% discount to the stock's theoretical ex-rights price of $0.087/ share, based on its current price of $0.124. Group plans to use the entire amount raised to support the group's expansion of its business activities, including its property and construction businesses. GSH distributes medical consumer goods and photographic and imaging equipment.