Vin’s Holdings raises $4.10m CP as related parties take 43.4%

The three-month SGD paper is under Vin’s SDAX multicurrency programme.

Vin’s Holdings Ltd has raised $4.10m in gross proceeds following the successful close of its three-month SGD Commercial Paper Series 001.

The digital securities will be issued to subscribers on the SDAX digital securities platform on the same day, the company said.

Related parties accounted for a significant share of subscriptions. Vin’s said $1.78m, or about 43.4% of the commercial paper issued, was subscribed by the company’s controlling shareholders, the spouse of a director, and its executive director and chief executive officer.

The issuance forms part of Vin’s SDAX Multicurrency Commercial Paper Programme. The company said it will make further announcements if there are material developments relating to the programme or future commercial paper issuances.

Vin’s is listed on SGX Catalist, with RHB Bank Berhad acting as sponsor. The company noted that the announcement has not been examined or approved by SGX-ST.

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