Aspen raises S$23.8m for glove-making venture upon placement of shares

Aspen’s president and group CEO Datuk Murly Manokharan

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SINGAPORE (Nov 19): Penang-based Aspen (Group) Holdings has raised S$23.8 million placing out 100 million new shares.

The subscribers, paying 23.8 cents per share, include Chua Ma Yu and Chua Sai Men, directors of Aspen Glove Sdn Bhd, which is a glove-making joint venture of Aspen’s. 

Another investor is Alan Wang Yu Huei, an existing Aspen shareholder, who is known to be a substantial shareholder in several other companies via his vehicle Asdew Acquisitions.

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