Oxley Holdings Ltd. increased the size of its planned share placement to 156,800,000 ordinary shares from 98 million shares to raise approximately S$78.1 million.
Each share in the proposed primary placement is priced at 51 Singapore cents, reflecting a roughly 8.8% discount to the volume-weighted average price of the company's stock on the Singapore bourse as of March 14.
Net proceeds raised from the issuance will go toward the group's working capital expenditures, including investments in project development.
Credit Suisse (Singapore) Ltd., DBS Bank Ltd. and Maybank Kim Eng Securities Pte. Ltd. are the joint placement agents for the offering, according to a release.
As of March 15, US$1 was equivalent to S$1.31.
