Huationg Global enters $7m placement deal with CGS International Securities

Net proceeds will fund working capital, whilst NTA and EPS dips slightly.

Huationg Global Limited entered into a placement agreement with CGS International Securities Singapore Pte. Ltd. to strengthen the company’s finances, expand its shareholder base, and provide balance sheet flexibility.

The placement deal will comprise approximately 11.8 million ordinary shares, valued at $0.60 per share, totalling up to $7.08m, according to an SGX filing.

The filing also said that the new shares represent approximately 6.66% of the existing share capital and 6.24% of the enlarged share capital.

The net proceeds, valued at around $6.78m, will all be used for general working capital purposes, including meeting manpower costs and administrative expenses.

The company’s net tangible assets per share are expected to decrease slightly from 62.36 cents to 62.21 cents, based on the company’s audited statements for fiscal year 2024.

Earnings per share are also projected to decrease from 9.23 cents to 8.49 cents.

The shares will be issued under the General Mandate approved at the Annual General Meeting held on 23 April 2025.

The company will also pay a commission of 2.85% of the placement price to the agent, with a potential discretionary incentive fee of up to 0.25%.

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