Oxley to raise up to nearly $80 mil in private placement

SINGAPORE (Mar 16): Oxley Holdings is selling 156.8 million new shares at 51 cents each in a private placement to institutional investors to raise nearly $80 million.

The issue price of 51 cents represents an 8.8% discount to the volume weighted average price of 55.9 cents for trades done on Thursday.

Oxley had initially planned to sell 98 million shares but increased the size due to significant interest from institutional funds.

Oxley's executive chairman and CEO, Ching Chiat Kwong (Credit: Samuel Isaac Chua/The Edge Singapore)

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