iX Biopharma gets SGX nod to list 75.8 million shares in $6m placement

The company entered a placement agreement with OCBC.

iX Biopharma Ltd. has received approval-in-principle from the Singapore Exchange Securities Trading Limited for the listing and quotation of up to 75.8 million new shares under its proposed placement.

The proposed placement is expected to raise gross proceeds of no less than $6m, according to a bourse filing dated 19 February.

The placement agreement was entered into with Oversea-Chinese Banking Corporation Limited. The company had earlier announced the results of the proposed placement on 13 February.

The SGX-ST’s approval-in-principle is subject to compliance with the exchange’s listing requirements and is not to be taken as an indication of the merits of the proposed placement, the company, its subsidiaries or its shares, the company said.

The proposed placement remains subject to the fulfilment of conditions set out in the placement agreement.

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