Friday 29 Mar 2024
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SINGAPORE (Oct 9): IPCO International, the company linked to John Soh, the alleged mastermind of the 2013 penny stock crash, has announced it is actively looking to raise funds from a third-party investor via a placement or rights issue.

In particular potential investors are interested in its three entities, Capri Investments, ESA Electronics and Hubei Zonglianhuan Energy Investment Management (HZLH).

Capri is currently working with Jones Lang LaSalle and John L Scott to sell or develop its land in Seattle. After land improvement and subdivision, each lot is slated to have a market value of US$80,000 to US$100,000. Valuation of Capri’s land is at US$9.45 million, and has “pre-approved” funding of its engineering expenses for the next 12-18 months by financial institutions of US$700,000 to US$800,000. Additionally legal action has been taken to pursue the US$2 million owed by HeHome Development for the balance of... (Click here to read the full story)

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