Oxley Holdings Ltd., as expected, raised approximately S$78.1 million after it placed 156,800,000 ordinary shares to investors from Singapore, Hong Kong, Malaysia and the U.K. at a price of 51 Singapore cents apiece.
The Singapore-listed company said it will use the net proceeds from the upsized offering for working capital purposes, which includes potential project development investments.
Credit Suisse (Singapore) Ltd., DBS Bank Ltd. and Maybank Kim Eng Securities Pte. Ltd. served as the joint placement agents for the offering.
As of March 26, US$1 was equivalent to S$1.31.