Worldsec Ltd Raises USD4.2 Million Via Issue Of 28.4 Million Shares (ALLISS)

3rd Apr 2018 14:51

LONDON (Alliance News) - Worldsec Ltd said Tuesday that it has raised gross proceeds of USD4.2 million throughout the issue of 28.4 million new shares at USD0.15 per share through open offer.

Shares in Worldsec Ltd were trading at 6.00 pence Tuesday afternoon.

The proceeds are expected to further the development and expansion of its investment portfolio.

Worldsec received valid acceptances under the open offer from qualifying shareholders in respect of 18.6 million ordinary shares. Deputy Chairman Henry Cheong, has subscribed for the balance of 9.7 million ordinary shares not taken up in the open offer in his capacity as underwriter.

Subject to admission, Henry Cheong will have a beneficial interest in 39.0 million ordinary shares, representing 45.80% of the company's enlarged share capital.

Following admission, the company will have 85.1 million ordinary shares in issue.

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