Asia
Aspial Lifestyle Completes SG$85 Million Equity Fundraising; Shares Up 3%
Aspial Lifestyle (SGX:5UF) concluded its preferential offering, raising a total of SG$84.8 million in gross proceeds, according to a Thursday filing with the Singapore Exchange.Shares of the luxury lifestyle company were up nearly 3% in Friday trading.The proceeds comprise SG$60 million from a previously completed private placement and SG$24.8 million from the preferential offering tranche.The company allotted and issued around 61.7 million shares under the preferential offering, receiving valid acceptances for 53.0 million shares and excess applications for 8.4 million shares.Meanwhile, controlling shareholder Aspial Corp. (SGX:A30) accepted its full allotment of 43.7 million shares, bringing its total stake in the company to 65.7%.
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