JES International to sell 50m new shares

Shanghai: Chinese shipbuilder JES International announced that the company has entered into a placement agreement with subscribers for the subscription of 50m new shares on the Singapore Exchange.

All the subscribers will make a total cash payment of S$7.23m for the subscription.

The placement will help strengthen the capital base of the company, as well as fund its growth and expansion, the company said in a statement. [05/03/14]

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