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Oxley Holdings Limited Invests Substantial Equity In Aspen Group
Highlights :
* A total of 97,000,000 new ordinary shares of Aspen was subscribed at S$0.24 per share
* The aggregate new shares under the placement represents approximately 10% of the enlarged issued and paid-up share capital of the Company
* The placement will create a synergistic relationship between the two organisations that are both principally engaged in the business of property development and property investment
* Aspen is expected to raise approximately S$ 23.3 million in gross proceeds from the placement and will utilise the proceeds for the acquisition of land banks, future developments and working capital
* Upon completion of the placement, the issued shares of Aspen will increase to 963,617,900 shares.
Aspen (Group) Holdings traded at S$0.22 (+0.015) per share as at 13:55 SGT.
About Aspen Group
Aspen Group is a Malaysia-based property group and its flagship development is Aspen Vision City located at Batu Kawan, Penang, which is a joint venture development with IKEA Southeast Asia. As at 31 December 2017, the Group has four ongoing projects under construction and four upcoming developments, all in Penang with 3,974 residential units totalling 423,091 sqm; 180,431 sqm of commercial shop offices and 125,025.2 sqm of leasable retail spaces. With total unbilled sales of S$292 million as at 31 December 2017, the Group expects revenue growth to continue with further sales and construction of its four ongoing projects.
Highlights :
* A total of 97,000,000 new ordinary shares of Aspen was subscribed at S$0.24 per share
* The aggregate new shares under the placement represents approximately 10% of the enlarged issued and paid-up share capital of the Company
* The placement will create a synergistic relationship between the two organisations that are both principally engaged in the business of property development and property investment
* Aspen is expected to raise approximately S$ 23.3 million in gross proceeds from the placement and will utilise the proceeds for the acquisition of land banks, future developments and working capital
* Upon completion of the placement, the issued shares of Aspen will increase to 963,617,900 shares.
Aspen (Group) Holdings traded at S$0.22 (+0.015) per share as at 13:55 SGT.
About Aspen Group
Aspen Group is a Malaysia-based property group and its flagship development is Aspen Vision City located at Batu Kawan, Penang, which is a joint venture development with IKEA Southeast Asia. As at 31 December 2017, the Group has four ongoing projects under construction and four upcoming developments, all in Penang with 3,974 residential units totalling 423,091 sqm; 180,431 sqm of commercial shop offices and 125,025.2 sqm of leasable retail spaces. With total unbilled sales of S$292 million as at 31 December 2017, the Group expects revenue growth to continue with further sales and construction of its four ongoing projects.
Specuvestor: Asset - Business - Structure.