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Global Invacom Gets In-Principle Nod for Dealing of 140 Million Rights Shares

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Global Invacom Group (SGX:QS9) has received in-principle approval from Singapore Exchange Securities Trading for the dealing in up to 140 million rights shares on the bourse following its rights issue, according to a Tuesday filing.

The company's shares were up over 2% in recent trade.

Global Invacom received approval in June to raise up to SG$4.9 million for satellite technology expansion via a renounceable partially-underwritten rights issue of up to 140 million shares at SG$0.035 per share.

Shareholders holding two shares will be entitled to subscribe for a rights share at SG$0.035 each.

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