Clearbridge Health (SGX:1H3) signed subscription agreements to place around 2.15 billion new shares at SG$0.0018 per share, raising about SG$3.9 million, according to a Wednesday filing with the Singapore Exchange.
Shares of the health services provider surged more than 100% in Thursday trading.
Under the agreement, subscribers Ong Choon Yi and Vitters Sim will each have the right to nominate a board director.
Funds from the subscription exercise will be used for general working capital.
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