Hot Stock Tips:Sincap to raise up to $26 mil in rights issue

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Catalist-exchanged Sincap Group is raising up to $26 million in a rights issue.

The organization which exchanges alumina and warm coal is offering 2.6 billion new shares at an issue cost of 1 penny for each share, on the premise of five rights offers for each one existing offer held by shareholders.

The issue cost speaks to a rebate of around 60% to SinCap’s last exchanged cost of 2.5 pennies for every share on Dec 2. Sincap has an issued share capital is 521 billion shares.

The organization means to utilize 60-70% of the net continues for business development.

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