Trendlines raises S$14.03 million through placement of new shares
The Trendlines Group raises S$14.03 million through placement of new shares, resulting in net proceeds of S$13.34 million
Placement subscribers include cornerstone investor B. Braun and prominent institutional and corporate investors
We completed the allotment and issuance of 100 million new ordinary shares at a Placement Price of S$0.1403 per share for gross proceeds of S$14.03 million. Trendlines will receive net proceeds of approximately S$13.34 million (approximately US$ 9.8 million) in exchange for the issuance of the new shares.
The placement was well subscribed by a good mix of institutional, corporate and individual investors. B. Braun Melsungen AG, the cornerstone investor in Trendlines’ November 2015 IPO, participated in this placement, maintaining its shareholding in The Trendlines Group. In addition, subscribers in the placement include prominent corporate and individual investors, Asdew Acquisitions Pte Ltd, Island Asset Management Pte Ltd, ICH Capital Pte Ltd, Lumiere Capital Limited, Azure Capital Pte Ltd, Emerald Investment Management Pte Ltd, and others.
The net proceeds of the placement will be used for the Group’s general working capital and direct and indirect investment in new, prospective, and existing portfolio companies.