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Aspial Lifestyle to Raise SG$85 Million via Equity Fund Raising

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Aspial Lifestyle (SGX:5UF) plans to raise around SG$84.8 million in gross proceeds via an equity fund raising, according to a Thursday filing with the Singapore Exchange.

Shares of the consumer lifestyle company were up over 1% in Friday trading.

The consumer lifestyle group intends to issue 149.3 million new shares via a private placement to raise roughly SG$60.0 million. Additionally, a non-renounceable preferential offering of 61.7 million shares will be extended to existing eligible shareholders to raise a further SG$24.8 million.

Both tranches are priced at S$0.402 per share.

Aspial stated that the proceeds will be utilized for general corporate activities, working capital needs, and potential strategic investments.

DBS Bank, Oversea-Chinese Banking Corp or OCBC (SGX:O39), SAC Capital and United Overseas Bank (SGX:U11) were nominated as joint placement agents for the exercise.

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