Medi Lifestyle to raise $8.8m via share placement

The placement shares will represent 23.95% of issued capital after completion.

Medi Lifestyle Limited will raise gross proceeds of about $8.75m through the placement of 178.6 million new ordinary shares at $0.049 each, the company said in a statement.

Net proceeds are expected to be about $8.59m after deducting approximately $0.16m in placement expenses. The funds will support its working capital, business development and expansion.

The placement shares represent approximately 31.49% of the company’s issued and paid-up share capital before completion of the placement and approximately 23.95% after completion.

The shares will be issued under the general share issue mandate approved by shareholders at the company’s annual general meeting on 30 April 2026.

The new shares will rank equally with existing ordinary shares, except for dividends, rights, allotments or other distributions where the record date falls on or before the completion date of the placement.

Medi Lifestyle will allocate about $6.01m, or 70% of the net proceeds, towards business development and expansion, including new project financing, strategic investments, mergers and acquisitions, and strategic partnerships.

A further $2.12m, or 25%, will go towards general working capital, including administrative, manpower, compliance and listing expenses, professional fees, and general overheads.

The remaining $0.46m, or 5%, will be used to repay a shareholder’s loan.

Pending deployment, the company may place the net proceeds as deposits with financial institutions or invest them in short-term, interest-bearing instruments.

Tan Lee Seng, executive director and CEO of Medi Lifestyle, said the placement will strengthen the company’s financial foundation and provide additional capacity to advance its growth plans.

The company also hopes to broaden its shareholder base and improve trading liquidity through the placement.

Medi Lifestyle will apply through its sponsor to the Singapore Exchange Securities Trading Limited for the listing and quotation of the placement shares on the Catalist board. The company will make an announcement upon receiving the listing and quotation notice.

Further details of the placement were set out in the company’s 17 August 2026 announcement on SGXNET.

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