Friday, May 19, 2006

Stock News: See Hup Seng to issue 76 mln new shares!

See Hup Seng said it has agreed to issue 12. 76 mln new shares at 0.14 sgd each to creditors as partial settlement of some 2.90 mln sgd debt owed by the company. On top of the issue of new shares worth 1.79 mln to the creditors, mainly suppliers of the company, an additional 1.11 mln sgd in cash will also be paid to settle the debts, See Hup Seng said. The new share issue is subject to shareholder and regulatory approvals.

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