Y Ventures gets listing and quotation notice for 24.66m placement

CATALIST-LISTED e-commerce firm Y Ventures has received the listing and quotation notice for its proposed placement of 24.66 million new ordinary shares at S$0.0812 apiece, it said on Friday night.

The shares have to be placed out within seven market days from the date of the notice, Oct 4.

Y Ventures had earlier said that of the S$2 million net proceeds from the placement, around S$1 million would be used to fund business expansion via potential mergers and acquisitions, joint ventures, strategic collaborations as well as investments.

The proceeds will also be used as working capital to accelerate its core business-to-consumer e-commerce business, it added.