SINGAPORE (April 3): Raffles Education is planning to raise S$44.6 million in a rights issue to to strengthen its capital base, repay debts and for general corporate and working capital purposes.

The provider of private education is selling up to 318.6 million new shares at 14 Singaporean cents each, on the basis of three rights shares for every 10 existing shares held by shareholders.

The issue price represents a discount of 44% to the closing price of 25 cents each on Dec 18 2017, being the date of the rights issue announcement, and a...(click on link for full story on theedgesingapore.com)