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CapAllianz to Raise Over SG$2 Million Via Share Placement; Shares Zoom 100%

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CapAllianz (SGX:594) will place around 1.95 billion shares at SG$0.0011 apiece to raise around SG$2.1 million, according to a Friday filing with the Singapore Exchange.

The investment holding company says around SG$600,000 of the placement will go to three investors for cash, around SG$1.5 million to six creditors whose outstanding amounts will be offset against the shares and SG$24,000 will be for six employees against their salaries.

The remaining proceeds of about SG$554,000 will be used for general working capital.

Shares of the company surged over 100% in Monday trading.

What else is happening in Asia?

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Orora Chief Safety, Sustainability, Governance Officer to Step Down at End of Year

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ASX:ORA
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Biokin Pharma Enrolls First Patient in Phase Three Trial for Breast Cancer Drug; Shares Up 4%

Sichuan Biokin Pharmaceutical (SHA:688506) enrolled the first subject for the third-phase clinical trial of biologic drug T-Bren for injection, according to a weekend filing with the Shanghai bourse.The trial evaluates T-Bren combined with pertuzumab versus standard chemotherapy in neoadjuvant treatment of HER2-positive breast cancer, according to a weekend filing with the Shanghai bourse.Shares of the pharmaceutical company rose 4% in recent trade.

SHA:688506
Asia

Market Chatter: Korea Exchange to Extend Trading Hours till 8PM

South Korea's main stock market, the Korea Exchange, will enable trading till 8 pm following the regular close at 3:30 pm from Monday, in its move toward 24-hour trading, Bloomberg News reported Sunday.This decision opens 2,400 Korea Composite Stock Price Index, or Kospi, and Kosdaq stocks for evening trades, which include short-selling. The move excludes exchange-traded funds, the report said.The Korea Exchange plans to introduce pre-market trading by the end of next year, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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