Wednesday, October 26, 2011

GMG Global 1-for-1 Rights Issue

GMG Global announced today a 1-for-1 rights issue, at 9.1 cents per rights share. This is the second time in two years that the company has proposed such a fund raising exercise. The company said that the proceeds may be used for acquisitions or financing purposes. The full document can be read here. I should be subscribing to the rights issue via the ATM.

Update December 31, 2011: I applied for 20,000 rights and 2,000 excess. In the end, I have got only 1,000 excess on top of my entitlement. This brings the total number of GMG shares I currently hold to 41,000 at an average price of SGD 0.094.

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